Frankfurt/Main, 28.01.2021 — publity AG («publity», ISIN DE0006972508) announces further details on the negotiations with a potential buyer regarding the acquisition of a majority shareholding in its Group subsidiary PREOS Global Office Real Estate & Technology AG («PREOS» / see ad hoc announcement from 25.01.2021, 17:48).
The buyer is an internationally operating Asian conglomerate with a balance sheet total in the equivalent of tens of billions of euros and several tens of thousands of employees worldwide. In the coming years, the buyer would actively accompany the strategic growth of PREOS and its international expansion. In the event of a successful closing of the transaction, the partners are currently discussing in depth that publity and the potential buyer will provide PREOS with financing in the triple-digit million euro range within the next few quarters, so that PREOS could acquire properties in Germany and in top European metropolises worth up to EUR 1 billion before the end of 2021. A future equity participation by publity in further property purchases by PREOS is also a possibility.
It is also intended that publity will continue to act as asset manager for PREOS’ current and future real estate portfolio after the new majority shareholder has joined. This also applies to property purchases made within the framework of PREOS’ planned internationalisation strategy supported by the potential buyer. Accordingly, there would be considerable potential for publity to expand its assets under management.
The Executive Board of PREOS and the extended management team have already stated that they would continue to drive the company’s growth in their current roles even after the possible completion of the acquisition of a majority shareholding by the Asian conglomerate.
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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 releases further details on negotiations for sale of majority shareholding in PREOS Global Office Real Estate & Technology AG