CFO

Adler SA

25/04/2023 08:49

DUESSELDORF, April 25 (Reuters) - German property
company Adler Group  ADJ.DE  wants to pay off its debt without a
complete break-up of the group, said Chief Financial Officer
Thomas Echelmeyer on Tuesday. 
    "The goal we are pursuing today is to keep a Berlin
portfolio ... with a much smaller scope and a much smaller
project development portfolio," he said, adding: "We will not do
a break-up." 
    This would allow Adler Group to pay all its debts, though
the group will also have to cut jobs.
    Adler Group's restructuring plan to prevent its imminent
collapse was approved by a London court this month. 

 (Reporting by Matthias Inverardi, Writing by Miranda Murray
Editing by Madeline Chambers)
 ((Miranda.Murray@thomsonreuters.com;))