Vonovia Acquires Purchase Option for Stake in Adler Group
08 Oktober 2021 - 09:03AM
Dow Jones News
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)
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