DGAP-News: ACCENTRO Steps Back from Acquisition of DIM Holding AG

ACCENTRO Steps Back from Acquisition of DIM Holding AG

- Agreed performance obligations not fulfilled by seller

- Forecast for 2021 confirmed

- Growth strategy intact

 

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). www.accentro.ag

Investor Relations Contact:

Thomas Eisenlohr

ACCENTRO Real Estate AG

Kantstrasse 44/45

D-10625 Berlin

E-mail: [email protected]

Tel. +49 (0)30 - 88 71 81 272

Press and Public Relations Contact:

Christian Dose

WMP EuroCom AG

Barckhaus Strasse 1

D-60325 Frankfurt

E-mail: [email protected]

Tel. +49 (0)69 2475689491

Mobile: +49 173 6679900