Brief: DIC Group And VIB Vermoegen Sign Business Combination Agreement

BRANICKS AG

23/03/2022 08:09

March 23 (Reuters) - VIB VERMOEGEN AG  VIH1n.DE :
    * COMBINED VALUE GROWTH - FOLLOWING THE SUCCESSFUL
COMPLETION OF
THE PARTIAL TENDER OFFER, DIC GROUP AND VIB VERMÖGEN AG HAVE
SIGNED A BUSINESS COMBINATION AGREEMENT
    * FOLLOWING SUCCESSFUL COMPLETION OF PARTIAL TENDER OFFER,
DIC
GROUP AND VIB VERMÖGEN AG HAVE SIGNED A BUSINESS COMBINATION
AGREEMENT
    * DIC NOW MAJORITY SHAREHOLDER OF VIB, HOLDING APPROXIMATELY
60%
    * DIC SUPPORTS VIB'S DIVIDEND PROPOSAL FOR 2021; ANNUAL
GENERAL
MEETING POSTPONED UNTIL END OF AUGUST
    * FOLLOWING COMPLETION OF TENDER OFFER, DIC GROUP WILL HOLD
APPROXIMATELY 60% OF OUTSTANDING VIB SHARES
    * ANNUAL TARGETS OF DIC RAISED DUE TO FULL CONSOLIDATION OF
VIB
    * DIC INTENDS TO FULLY CONSOLIDATE VIB AS OF 1 APRIL 2022.
    * DIC NOW EXPECTS AN INCREASED GROSS RENTAL INCOME OF
BETWEEN EUR
170 AND 180 MILLION AND A GROWTH IN KEY CONTROL VARIABLE FUNDS
FROM OPERATIONS (FFO) AFTER MINORITY INTERESTS AND BEFORE TAXES
TO BETWEEN EUR 130 AND 136 MILLION, IN EITHER CASE FOR FISCAL
YEAR 2022
    * DIC ASSET ALL OTHER TARGET FORECASTS REMAIN UNCHANGED

Source text for Eikon:  ID:nEQ6StRXxa 
Further company coverage:  VIH1n.DE 

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