Adler Group rises on disposals

Adler Real Estate AG

01/12/2021 07:51

** Shares in Adler Group  ADJ.DE  are up 4.2% in early
Frankfurt trade after the German property group announces
divestitures
    ** Adler sells 15,500 units to LEG Immobilien  LEGn.DE  for
800 million euros ($906 million)  urn:newsml:reuters.com:*:nFWN2SL1D9
    ** The Group also sells an around 7% stake in Brack Capital
Properties N.V. for 75 million euros
    ** In addition, Adler Real Estate agreed to tender its
remaining shares as part of a public tender offer by LEG if the
price per share offered is not less than 157 euros
    ** "Cash inflow should act slightly positive for battered
Adler," a local trader says
    


($1 = 0.8829 euros)

 (Reporting by Bartosz Dabrowski)
 ((bartosz.dabrowski@thomsonreuters.com; +48 58 7696560;))