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Strategic reorientation: Withdrawal form the areas of asset and property management on behalf of third parties and commercial project development as well as termination in substance of collaboration with AIG Global Real Estate envisaged. Reduction in staff.
Ad-hoc-Notification pursuant to § 15 WpHG of ADLER Real Estate AG, Hamburg
Hamburg, 28 August 2009. The Management Board of ADLER Real Estate AG has today passed a basic decision to withdraw from the areas of asset and property management on behalf of third parties and of commercial project development in order to concentrate on the management of its own portfolio of properties and its sale. The commercial properties shall be disposed of project-specifically to investors. The residential properties shall be divided into small sections as planned and disposed of after site development and parcelling. The anticipated liquidity improvement shall enable to make cash flow orientated investments in the currently favorable market.
In the course of this reorientation the collaboration with AIG Global Real Estate shall be terminated in substance. The indirect holdings of ADLER Real Estate AG in altogether 16 objects in Germany, that were acquired together with AIG Global Real Estate, shall be transferred to AIG Global Real Estate to a large extent. In addition, the Asset Management and Property Management Agreements for the aforementioned 16 objects and the Asset Management Agreement concerning the Airport Center Luxembourg, that were concluded with a subsidiary of ADLER Real Estate AG, shall be terminated. Details are currently negotiated with AIG Global Real Estate.
In consequence, there will be a reduction in staff in the ADLER Real Estate AG group, the extent of which is to be defined.
The approval by the Supervisory Board of ADLER Real Estate AG of this basic resolution of the Management Board is still pending.
The Management Board
If you may have any request please refer as follows:
german communications dbk ag
Jörg Bretschneider
Alsterufer 34, 20354 Hamburg
Tel.: 040/46 88 33 0, Fax: 040/47 81 80
presse@german-communications.com
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| NEWS |
share price
0,56 € (29.07.2010)
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27/04/2010
ADLER Real Estate AG:
Announcement according to articles 37v,
37w, 37x ff WpHG
26/03/2010
ADLER Real Estate AG well positioned for 2010
01/12/2009
ADLER Real Estate AG Sells Property in Saarbrücken
13/11/2009
ADLER Real Estate AG: Extraordinary Expenses Continue to Weigh Down Earnings
13/11/2009
Interim announcement of the group within the 2nd half-year
28/08/2009
Strategic reorientation
14/08/2009
ADLER Real Estate AG expects to break even
15/05/2009
ADLER Real Estate AG Reports Slight Growth in Sales
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