Germany's Branicks aims to delay payments in talks with lenders

BRANICKS AG

22/01/2024 11:49

Jan 22 (Reuters) - Branicks Group AG  BRNKn.DE  is in
talks with lenders to delay loan repayments, the board of the
German commercial real estate firm said in a statement on
Monday.
    The Group, which manages 13.9 billion euros' ($15.13
billion) worth of assets, is entering into negotiations with
lenders who financed the 2022 acquisition of VIB Vermoegen AG as
well as proposing talks with holders of notes maturing in 2024,
it said.
    No dividend will be paid for the financial year 2023, added
the firm formerly known as DIC Asset. 


($1 = 0.9184 euros)

 (Reporting by Louis van Boxel-Woolf
Editing by Miranda Murray)
 ((Louis.vanBoxel-Woolf@thomsonreuters.com;))