LEG Immobilien SE / Key word(s): Letter of Intent/Acquisition
Düsseldorf, October 11, 2021
LEG Immobilien SE: Conclusion of a letter of intent on the acquisition of properties of Adler Group
- LEG Immobilien and Adler Group conclude letter of intent on the acquisition of approximately 15,350 residential units of the Adler Group by LEG Immobilien
- Subject to due diligence, LEG Immobilien will acquire the residential units at the current market price
- Parties agree on a period of exclusivity
Subject to a standard market due diligence review, the parties have agreed that LEG Immobilien will acquire these residential properties at market price. Apart from that, the parties will finalize the further parameters of the agreement in the course of the next weeks. The parties have agreed on exclusivity for the purpose of due diligence and finalization of the relevant contractual documentation. The management of LEG Immobilien waives the contractually agreed transaction bonus for this transaction.
For LEG Immobilien, the arrangement with Adler Group is a consistent step in the expansion of its portfolio as part of its strategy. The portfolio is focused on LEG's core product ,affordable living'. The potential transaction would allow the company to further expand its market presence in North and Northwestern Germany - about 90 % of the units are located in Lower Saxony, Schleswig-Holstein and Bremen.
Head of Investor Relations & Strategy
Tel. +49 (0)211/4568-550
Mob. +49 (0)1721739339
Information and Explanation of the Issuer to this News:
This announcement is for information purposes only and neither constitutes an invitation to sell nor an offer to purchase securities.
To the extent any announcements in this document contain forward-looking statements, such statements do not represent facts and are characterized by the words 'will', 'expect', 'believe', 'estimate', 'intend', 'aim', 'assume' or similar expressions. Such statements express the intentions, opinions or current expectations and assumptions of LEG Immobilien and the persons acting jointly with LEG Immobilien. Such forward-looking statements are based on current plans, estimates and forecasts, which LEG Immobilien and the persons acting jointly with LEG Immobilien have made to the best of their knowledge, but which they do not claim to be correct in the future. Forward-looking statements are subject to risks and uncertainties that are difficult to predict and usually cannot be influenced by LEG Immobilien or the persons acting jointly with LEG Immobilien. These expectations and forward-looking statements can turn out to be incorrect and the actual events or consequences may differ materially from those contained in or expressed by such forward-looking statements.
|Company:||LEG Immobilien SE|
|Phone:||+49 (0) 211 / 4568 - 0|
|Fax:||+49 (0) 211 / 4568 - 204|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Stuttgart, Tradegate Exchange|
|EQS News ID:||1239631|
|End of Announcement||DGAP News Service|