DGAP-News

Aves One sells entire sea container portfolio and focuses on 'Rail' business

DGAP-News: Aves One AG / Key word(s): Contract/Disposal Aves One sells entire sea container portfolio and focuses on 'Rail' business 18.03.2021 / 20:30 The issuer is solely responsible for the content of this announcement. Corporate News Aves One sells entire sea container portfolio and focuses on "Rail" business

• Aves One sells entire sea container portfolio to institutional investor for around USD 182,5 million
• Non-cash exceptional write-downs of up to EUR 33.5 million expected
• Sale generates liquidity of approximately USD 23.8 million for further Rail acquisitions
• Jürgen Bauer to leave the Management Board with the completion of the strategic milestone

Hamburg, 18 March 2021 - Aves One AG, a strongly growing holder of long-life rail assets, has reached an important milestone in its strategic focus on the stable and profitable "Rail" business. As part of this decision, an asset purchase agreement for the sea container portfolio was signed with an entity controlled by funds and separate accounts managed by Oak Hill Advisors, an alternative investment company, for approximately USD 182.5 million. The transaction will be closed in the next few months. As part of the sale of the sea containers, non-cash exceptional write-downs of up to EUR 33.5 million will be incurred. As far as possible, these will be accounted for in the 2020 annual financial statements.

Strategic concentration on "Rail" business completed

With the closing of the transaction, the sea container segment will be completely discontinued and the Management Board will have thus successfully completed the transition to focus on the "Rail" business. With the completion of the container sale, Jürgen Bauer will leave the Management Board, but will remain associated with the company in an advisory capacity. In the future, the Management Board will comprise the two board members Tobias Aulich and Sven Meißner.