DGAP-News 130 0 Kommentare Adler Group S.A.: Successful closing of disposals - EUR 850m of proceeds used to repay existing debt fueling financial synergies

DGAP-News: Adler Group S.A. / Key word(s): Disposal
Adler Group S.A.: Successful closing of disposals - EUR 850m of proceeds used to repay existing debt fueling financial synergies

07.01.2021 / 07:00
The issuer is solely responsible for the content of this announcement.

Adler Group: Successful closing of disposals - EUR 850m of proceeds used to repay existing debt fueling financial synergies

- Successfully closed the disposal of non-strategic development projects and of c. 5,000 residential units

- Proceeds of EUR 850m to be used to repay existing debt

- Further step on the path to achieve targeted financial synergies

- Strengthening the capital structure and further improving the LTV

Berlin, 7 January 2021 - Consus Real Estate AG, a 94% subsidiary of Adler Group S.A. ("Adler Group"), has successfully completed the disposal of 24 non-strategic projects.

Together with proceeds received from the successful closing of the disposal of c. 5,000 residential units as announced in September 2020, Adler Group generated total proceeds in the amount of EUR 850m. These proceeds will be used to repay existing debt to further smoothen the maturity profile and to reduce the average cost of debt. The closing of these disposals is a further step to achieve the targeted financial synergies.

The receipt of the proceeds strengthens Adler Group's capital structure and contributes to the deleveraging plan of the Group reducing the LTV to 50%.

Contact

Investor Relations:
T +352 278 456 710
F +352 203 015 00
E investorrelations@Adler-group.com

07.01.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Language:	English
Company:	Adler Group S.A.
	1B Heienhaff
	1736 Senningerberg
	Luxemburg
Phone:	+352 278 456 710
Fax:	+352 203 015 00
E-mail:	investorrelations@adler-group.com
Internet:	www.adler-group.com
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:	1158906