ADO PROPERTIES S.A. (FRA:LU125015) ADO Properties S.A.: Agreement Entered for Sale of a Real Estate Portfolio

Directive transparence : information réglementée

26/09/2019 21:00

DGAP-Ad-hoc: ADO Properties S.A. / Key word(s): Real Estate/Disposal
ADO Properties S.A.: Agreement Entered for Sale of a Real Estate Portfolio

26-Sep-2019 / 21:00 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

ADO Properties S.A.: Agreement Entered for Sale of a Real Estate Portfolio

Berlin, September 26, 2019. ADO Properties S.A. (the "Company") has today announced the entering into of a share purchase agreement (the "Share Purchase Agreement") with Gewobag Wohnungsbau Aktiengesellschaft, Berlin for the sale of 100% of the shares of certain subsidiaries owning 23 properties consisting in aggregate of approximately 5,800 residential apartment units. The sale price for the shares is EUR 920 million, less approximately EUR 340 million of net debt of the companies being sold. The assets are located in the Spandau and Reinickendorf districts in the West and the North of Berlin, most of which were acquired in 2015.

As of the Company's last reported June 30, 2019 financial statements, the loan to value ratio of the Company as a result of the sale is expected to decrease from 38% to approximately 21% and the EPRA Net Asset Value as a result of the sale is expected to increase to EUR 62.60 per share. ADO Properties S.A. is considering various opportunities with respect to the proceeds from the sale, including repaying existing indebtedness, acquiring additional real estate portfolios, and for general corporate purposes.

The Share Purchase Agreement is subject to a number of customary conditions, including merger control approvals.

Definitions of our alternative performance measures like loan to value ratio and EPRA NAV are available in our latest financial report under

https://www.ado.properties/websites/ado/English/4000/publications.html in the Financial Performance Indicators section.


Nicole Müller, Legal Counsel

26-Sep-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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Language: English
Company: ADO Properties S.A.
1B Heienhaff
1736 Senningerberg
Phone: +352 278 456 710
Fax: +352 203 015 00
E-mail: ir@ado.properties
Internet: www.ado.properties
ISIN: LU1250154413
WKN: A14U78
Indices: SDAX, FTSE EPRA/NAREIT Global Index, FTSE EPRA/NAREIT Developed Europe Index, FTSE EPRA/NAREIT Germany Index
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange; London, Luxembourg Stock Exchange, SIX
EQS News ID: 881193

End of Announcement DGAP News Service

881193  26-Sep-2019 CET/CEST