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DIC Asset AG acquires leading German logistics specialist RLI Investors

DGAP-News: DIC Asset AG / Key word(s): Takeover/Investment DIC Asset AG acquires leading German logistics specialist RLI Investors 23.12.2020 / 07:57 The issuer is solely responsible for the content of this announcement. Press Release

DIC Asset AG acquires leading German logistics specialist RLI Investors

- Strategic decision implemented: expansion of the logistics asset class

- Value-enhancing acquisition is budgeted to contribute c. EUR 4 million to the EBITDA as early as 2021

- Assets under management increase by more than EUR 700 million

- Expansion of the investor base

 

Frankfurt am Main, 23 December 2020. Today, DIC Asset AG (ISIN: DE000A1X3XX4), one of Germany's leading listed property companies, signed the agreement to acquire 100% of the shares in the Munich-based company RLI Investors GmbH along with a minority stake of 25% in the company Realogis Holding GmbH ("Realogis"), also based in Munich. The purchase price approximates EUR 42 million. The transfer to the DIC Asset group of companies will take place at the beginning of the first quarter of 2021. The value-enhancing acquisition will probably contribute c. EUR 4 million to the group's EBITDA and increase the FFO per share as early as 2021.

"This is a major forward-looking decision for the company," elaborates Sonja Wärntges, the Chief Executive Officer (CEO) of DIC Asset AG, as she comments on the two acquisitions. "Especially as this peculiar year is drawing to a close, we are demonstrating once again that we have the agility and quality to respond quickly to the market and to detect, seize and capitalise on growth opportunities for the company. We now have outstanding teams and competencies aboard that will help us to keep expanding the logistics asset class within the group - including beyond the borders of Germany." This goes both for the proprietary portfolio and for the Institutional Business.