Brief: Publity Concretizes And Modifies Plans To Add New Major Shareholder To PREOS

GORE German Office Real Estate AG

03/03/2022 10:51

March 3 (Reuters) - PUBLITY AG  PBYG.DE :
    * CONCRETIZES AND MODIFIES PLANS TO ADD A NEW MAJOR
SHAREHOLDER TO
ITS SUBSIDIARY PREOS GLOBAL OFFICE REAL ESTATE & TECHNOLOGY AG
    * KEY POINTS OF THE MULTI-STEP TRANSACTION COMPARED WITH THE
AD
HOC ANNOUNCEMENT OF OCTOBER 19, 2021, HAVE BEEN SPECIFIED AND
ADJUSTED
    * LUXEMBOURG-BASED INVESTMENT VEHICLE OF AN INTERNATIONAL
INSURANCE INSURANCE GROUP IS TO INITIALLY HOLD AROUND 44.7% OF
THE SHARES AND, AFTER COMPLETION OF ALL THE 79% OF PREOS SHARES
AFTER COMPLETION OF ALL TRANSACTION STEPS
    * CONTRIBUTION OF TWO LUXEMBOURG REAL ESTATE PORTFOLIOS WITH
A
TOTAL VALUE OF (NET) VALUE NOW TOTALLING OVER EUR 2 BILLION TO
PREOS SUBSIDIARY GORE GERMAN OFFICE REAL ESTATE AG IN RETURN FOR
THE ISSUE OF NEW GORE SHARES AT AN EXPECTED VALUE OF VALUATION
OF PRESUMABLY EUR 3.00 PER NEW GORE SHARE PLANNED
    * FIRST REAL ESTATE PORTFOLIO CONSISTING OF THREE PROPERTIES
AND
PROJECTS WITH A TOTAL (NET) VALUE OF APPROXIMATELY EUR 480
MILLION IS TO BE INCORPORATED INTO GORE BY MEANS OF A CAPITAL
INCREASE PLANNED FOR THE SECOND QUARTER OF 2022
    * SECOND REAL ESTATE PORTFOLIO CONSISTING OF FOUR PROPERTIES
OR
REAL ESTATE PROJECTS WITH A TOTAL (NET) VALUE OF APPROXIMATELY
EUR 1.75 BILLION IN THE CONTEXT OF A FURTHER CAPITAL INCREASE IN
KIND PLANNED FOR THE PERIOD BETWEEN THE 4TH QUARTER OF 2022 AND
THE 4TH QUARTER OF 2023
    * NEWLY ACQUIRED GORE SHARES FROM THE TWO NON-CASH CAPITAL
INCREASES AT GORE ARE TO BE TRANSFERRED TO PREOS BY THE
LUXEMBOURG INVESTMENT VEHICLE IN EXCHANGE AGAINST THE ISSUANCE
OF NEW PREOS SHARES AT AN ESTIMATED VALUE OF EUR 5.20 PER NEW
PREOS SHARE

Source text for Eikon:  ID:nEQ7GJxTxa 
Further company coverage:  PBYG.DE 

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