By Ed Frankl

 

German real-estate giant Vonovia SE acquired a purchase option for a 13.3% stake in Adler Group SA, Adler shareholder Aggregate Holdings SA said on Thursday.

The price is significantly more than Adler's latest closing share price and the call option has a term of 18 months, Aggregate said.

Frankfurt-listed shares in Adler closed on Thursday at 11.55 euros ($13.34).

Shares in Luxembourg-based Adler climbed on Monday after it said it would review strategic options for its real-estate portfolio, having received approaches from potential buyers.

However, the shares subsequently fell back after short seller Viceroy Research accused Adler of overstating its property values. Adler has rejected the claims.

Aggregate has a 26.6% stake in Adler, according to Aggregate's website.

 

Write to Ed Frankl at edward.frankl@dowjones.com

-0- 

Real estate group Adler Group is currently having to defend itself against accusations by short-seller Viceroy. Viceroy accuses the company of overstating the property values recognized in Adler's balance sheets. The company has denied this.

(END) Dow Jones Newswires

October 08, 2021 02:48 ET (06:48 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.
Vonovia (TG:VNA)
Historical Stock Chart
Von Feb 2024 bis Mär 2024 Click Here for more Vonovia Charts.
Vonovia (TG:VNA)
Historical Stock Chart
Von Mär 2023 bis Mär 2024 Click Here for more Vonovia Charts.