Shareholders vote to approve Adler's recapitalisation plan

Adler SA

09/08/2024 14:37

BERLIN, Aug 9 (Reuters) - Shareholders on Friday voted
to approve embattled German landlord Adler Group's  ADJ.DE 
recapitalisation, in a move hailed by the company as a major
step towards stabilisation, a statement said.
    Adler Group expects to complete the comprehensive
recapitalisation in the course of September 2024, it said in a
statement following an extraordinary general meeting.
    "The planned recapitalisation, now approved by both our
bondholders and our shareholders, provides us with an extended
runway to execute our strategy and avoids unnecessary asset
disposals far below their fair values." 

 (Writing by Rachel More, Editing by Friederike Heine)
 ((rachel.more@thomsonreuters.com;))