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Germany´s Adler Real Estate Closes Acquisition of ADO Group
Wednesday 11 December 2019

11 December 2019 - Germany-based Adler Real Estate AG has completed the acquisition of 100% shares in ADO Group Ltd. for around EUR 708m (USD 788.38m) resulting in Adler holding a 33.25% stake in ADO Properties S.A. (ADO Properties), the company said.

The proposed merger was announced on 23 September 2019 followed by merger control clearance and approval for merger by ADO Group's shareholders which was voted at the EGM on 7 November 2019.

This transaction will create a German residential company with a real estate portfolio with a gross asset value of EUR 8.5bn on a fully consolidated basis.

It will deliver greater scale and geographical diversification, but also speed up de-levering process as well as accelerate changes to our dividend policy.

Adler said it will be looking to pass on the dividend received from ADO Properties to its own shareholders.
Details
Date Published: 11/12/2019
Target: ADO Group Ltd.
Country: Germany
Deal Size: 788.38m (USD)
Sector: Construction/Real Estate
Type: LBO
Financing: Cash
Status: Closed
Vendor:
Buyer: Adler Real Estate AG
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