Brief: Publity Plans To Sell Its Preos Stake

Publity AG

19/10/2021 09:59

Oct 19 (Reuters) - PUBLITY AG  PBYG.DE :
    * PLANS ADDITION OF NEW MAJORITY SHAREHOLDER IN ITS
SUBSIDIARY
PREOS GLOBAL OFFICE REAL ESTATE & TECHNOLOGY AG AND TERMINATES
PLANS TO SELL ITS PREOS STAKE
    * PORTFOLIO OF LUXEMBOURG REAL ESTATE PROJECT DEVELOPMENTS
CONSISTING OF AN INVESTMENT HOLDING AND A DEBT FUND WITH A
MARKET VALUE EXPECTED TO EXCEED EUR 1 BILLION IS TO BE
CONTRIBUTED TO GORE THROUGH A CAPITAL INCREASE IN KIND AGAINST
ISSUANCE OF NEW GORE SHARES
    * VALUE TO BE APPLIED TO GORE SHARES IS TO BE DETERMINED ON
BASIS
OF STOCK EXCHANGE PRICE AND ON BASIS OF A COMPANY VALUATION AND
IS EXPECTED TO BE WITHIN A RANGE OF EUR 2.00 TO EUR 3.00 PER
GORE SHARE
    * REQUIRED SHAREHOLDERS' MEETING RESOLUTIONS FOR FIRST TWO
STEPS
ARE PLANNED FOR BEGINNING OF 2022
    * VALUE TO BE APPLIED TO THE PREOS SHARE IS EXPECTED TO BE
IN A
RANGE OF EUR 4.50 TO EUR 5.50 PER SHARE

Source text for Eikon:  ID:nEQ2dRyZma 
Further company coverage:  PBYG.DE 

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