DIC Asset AG

12/06/2018 | Press release | Distributed by Public on 12/06/2018 07:03

DIC Asset AG Group signs agreements with a view to the disposal of a participation of approximately 14% in TLG IMMOBILIEN AG

Press Release

DIC Asset AG Group signs agreements with a view to the disposal of a participation of approximately 14% in TLG IMMOBILIEN AG

(Frankfurt, 06.12.2018)

Disclosure of an inside information acc. to Article 17 MAR

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Frankfurt am Main, 6. December 2018. DIC Asset AG Group has, after the increase of its own position, signed today with Ouram Holding S.à.r.l. ('Ouram') and Bedrock Group ('Bedrock') agreements with a view to the disposal of shares in TLG IMMOBILIEN AG amounting in the aggregate to 14% for a purchase price which is higher than the current stock exchange price. The total purchase price has magnitude of approximately EUR 376,000,000, the resulting substantial profit goes directly into the balance sheet profit of DIC Asset AG Group. The agreement with Ouram relates to a 6% stake, the agreement with Bedrock to a stake of 8% in TLG IMMOBILIEN AG. Closing of the transactions is expected to take place at the end of the first quarter/beginning of the second quarter 2019 at the latest. The proceeds will be used for the growth of the business of DIC Asset AG.