Grand City Properties Acquires 20% Stake in LEG Immobilien SE

Grand City Properties S.A., a real estate investment company, has acquired a 20.04% stake in LEG Immobilien SE. The transaction involves agreements with financial intermediaries for the purchase of LEG Immobilien shares. This acquisition adds to the company's existing investments, reaching a total holding of 20.04%.

The Luxembourg-based company views this investment as a financial opportunity. It retains the flexibility to adjust its stake, potentially increasing it to 29.9% or selling it based on market conditions. The book value of the acquired LEG Immobilien shares is approximately €1.8 billion. These shares are currently trading at a significant discount, offering potential for a notable, non-cash profit under certain financial standards.