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2021-10-26

DGAP-News: Adler Group S.A.: continues accelerated deleveraging and delivers on LTV target

DGAP-News: Adler Group S.A. / Key word(s): Disposal
Adler Group S.A.: continues accelerated deleveraging and delivers on LTV target

26.10.2021 / 10:29
The issuer is solely responsible for the content of this announcement.


ADLER Group S.A. continues accelerated deleveraging and delivers on LTV target

  • Ca. 14,300 units to be sold at a value of more than € 1bn
  • Strategic asset disposals finalised
  • Intensified focus on top 7 cities in Germany


Berlin, 26 October 2021 - ADLER Group S.A. ("ADLER") takes the next step in accelerated deleveraging and intensified focussing on top 7 cities by signing a term sheet with a leading alternative investment firm in order to sell ca 14,300 units. These assets are mainly located in mid-sized cities in the Eastern part of Germany.

The transaction valuation of more than € 1bn is at a premium to the book value appraised by CBRE as of end of June 2021 and proves the quality of ADLER's assets. This second term sheet signed by ADLER within two weeks also underpins the liquidity of the residential real estate market in Germany.

After, i.a., repayment of secured loans, the net proceeds of this deal are expected to be at around € 600m, which would lead to an LTV of below 50%.

The parties are working towards a signing of the transaction in December 2021. Signing is subject to satisfactory purchaser's due diligence and the conclusion of final agreements. Closing of the transaction is subject to the fulfillment of customary market conditions and could take place in Q1 2022.

This disposal would have no impact on ADLER's increased financial guidance for 2021 with a Net Rental Income target of € 340-345m and an FFO 1 target of € 135-140m.

As this transaction marks the end of the recently announced strategic asset disposals, ADLER is now focussing on selling non-core development projects to further decrease its LTV and its development exposure.

Contact
Investor Relations:
T +352 278 456 710
E investorrelations@adler-group.com




26.10.2021 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.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de


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:1243537



 
End of NewsDGAP News Service

1243537  26.10.2021 

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