Frankfurt, 05.05.2021 – publity AG (Scale, ISIN DE0006972508, “publity”) reports on the current status of negotiations with the potential buyer on the acquisition of a majority stake in its group subsidiary PREOS Global Office Real Estate & Technology AG (“PREOS” / see ad hoc announcement of January 25, 2021 at 17:48 and CN of January 29, 2021 at 14:16).
Due to the current ongoing work to complete the annual and consolidated financial statements of PREOS, the potential buyer and publity have agreed to postpone their negotiations on the acquisition of a majority stake in PREOS until the presentation of the completed and audited financial statements for the fiscal year 2020. Both parties have thereby expressed their continuing intention to complete the transaction subject to satisfactory due diligence and contractual documentation. Based on the adjusted timeline, the closing of the transaction is targeted for the third or fourth quarter of 2021.
Financial Press and Investor Relations:
Axel Mühlhaus/ Svenja Liebig
Phone: +49 69 905505-56
publity AG (“publity”) is an asset manager and investor specialised in office real estate in Germany. The company covers the core of the value chain from the acquisition to the development and the sale of real estate. With over 1,100 transactions in the past seven years, publity is one of the most active players in the real estate market. Currently, the company manages a portfolio with a value of over five billion euros. publity is characterized by a sustainable network in the real estate industry and in the Work-Out departments of financial institutions. With very good access to investment funds, publity handles transactions rapidly with a highly efficient process and proven partners. On a case-by-case basis, publity participates as co-investor in joint venture transactions to a limited extent. The shares of publity AG (ISIN DE0006972508) are traded on the Scale segment of Deutsche Börse.
publity AG informs about the status of negotiations regarding the sale of a majority stake in PREOS Global Office Real Estate & Technology AG