Aggregate Holdings S.A. : No cross-default from Vonovia actions
Luxembourg, 9 March 2022. Aggregate has completed its legal review and has concluded that no cross-default will occur from Vonovia SE (“Vonovia”) taking control of shares in Adler Group SA (“Adler”) owned by Aggregate. The net effect of this action was to reduce Aggregate’s stake in Adler from 26.6% to 6.1%, to extinguish the EUR 250m loan from Vonovia secured on the Adler shares, and to end Vonovia's call option.
Contact
Benjamin Lee, Chief Financial Officer
Tel : +352 20 30 14 60
Mob : +44 7415 121218
b.lee@aggregateholdings.com
Boris Lemke, Investment Director
Tel : +352 20 30 14 60
Mob : +44 7943 025474
b.lemke@aggregateholdings.com
Dr Christoph Walther, Consigliere Consult
Mob : +49 151 12241630
christoph.walther@consigliere-consult.com
Xander Heijnen, Consigliere Consult
Mob : +49 172 811 9728
xander.heijnen@consigliere-consult.com
About Aggregate Holdings
Aggregate Holdings SA (“Aggregate”) is a predominantly German-focused real estate investment company, with interests also in Portugal. As at H1 2021, the company had €8.3bn of assets and a project portfolio with €9.5bn Gross Development Value. In its Build & Hold division, Aggregate owns Quartier Heidestrasse, the largest mixed use real estate development project in central Berlin with c.295,000 sqm of gross construction area (“GCA”), Fürst, the prime commercial asset located on Kurfürstendamm in central Berlin with c. 183,000 sqm of GCA, and Walter and Green Living projects in Berlin with a combined GCA of 620,000 sqm. Aggregate also owns in its Build & Sell division VIC Properties, the largest real estate developer in Portugal with c.570,000 sqm of GCA and €2.8bn Gross Development Value. Additionally, Aggregate holds a 6.1% stake in Adler Group SA, one of the largest residential real estate players in Germany.