Ad-Hoc News

Accentro Steps Back from Acquisition of Dim Holding AG

12.

May 2021

Berlin, 12 May 2021 – ACCENTRO Real Estate AG decided today to sign a termination agreement concerning the sale-and-purchase agreement for the acquisition of DIM Holding AG (“Deutsche Immobilien Management”). Agreed performance obligations had not been met. Notwithstanding the rescission, the group confirms its forecast for the 2021 financial year. At the same time, ACCENTRO reaffirms its strategy of diversifying and increasing its revenues through acquisitions in the property management segment. As a result of today’s resolution by management board and supervisory board, the transaction is to be reversed. The acquisition of DIM Holding AG and the signing of the sale-and-purchase agreement had been announced by ACCENTRO AG on 29 December 2020. The sale-and-purchase agreement allows ACCENTRO to withdraw if contractually defined performance obligations of the seller are not fulfilled. Notwithstanding the rescission of the sale-and-purchase agreement, ACCENTRO AG will continue its strategic collaboration with DIM Holding AG. In addition, ACCENTRO has also been granted an option whereby it can continue to acquire DIM Holding AG over the next 12 months. Lars Schriewer, CEO of ACCENTRO commented: “We will continue on our chosen path of increasing value creation through acquisitions. Our declared goal is to diversify and increase revenues. We are now looking into alternative growth options, and first talks are already under way. Given its robust business performance, ACCENTRO is well on track to achieve the forecast for 2021 despite the rescission.”

About ACCENTRO Real Estate AG

ACCENTRO Real Estate AG is a residential property investor and Germany’s market leader in housing privatisations. Its real estate portfolio consisted of around 5,200 units as of 31 December 2020. In addition to Berlin, regional focal points include East German cities and conurbations, as well as the Rhine-Ruhr metro region and Bavaria. The business activity of ACCENTRO comprises four core divisions. These are the tenant-sensitive retailing of condominiums to owner-occupiers and private buy-to-let investors, the sale of real estate portfolios to institutional investors, the set-up and management of a proprietary real estate portfolio, and third-party condominium marketing for property asset holders, investors and developers. The shares of ACCENTRO Real Estate AG are listed on the Prime Standard segment of the Frankfurt Stock Exchange (German securities code number WKN: A0KFKB, ISIN: DE000A0KFKB3). investors.accentro.de

Contact for investor relations

Thomas Eisenlohr

ACCENTRO Real Estate AG

Kantstraße 44/45

10625 Berlin

E-Mail

Telefon

eisenlohr@accentro.de

+49 (0)30 - 88 71 81 272

Contact for press and public relations

Christian Dose

WMP EuroCom AG

Barckhaustrasse 1

D-60325 Frankfurt

E-Mail

Telefon

c.dose@wmp-ag.de

+49 (0)69 2475689491 / +49 173 6679900

Further readings

Ad-Hoc News

ACCENTRO Publishes Figures for Its 2020 Financial Year – EBIT Before One-Off Effects Tops Prior-Year Figure

26. April 2021

Berlin, 26 April 2021 – ACCENTRO Real Estate AG, Germany’s leading housing privatisation company, has published preliminary figures for its 2020 financial year.
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Ad-Hoc News

ACCENTRO Acquires Property Manager of 18,500 Flats

29. December 2020

ACCENTRO Real Estate AG (securities identification number: A0KFKB, ISIN: DE000A0KFKB3) is acquiring all the shares of DIM Holding AG (“Deutsche Immobilien Management”).
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