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Aggregate Holdings SA and group companies is acquiring a portfolio of ten development projects located in Berlin, Düsseldorf and Frankfurt following entering into the financing agreements
- Ten projects across Berlin, Düsseldorf and Frankfurt with total gross construction area of c.1,200,000 sqm
- Portfolio valuation of EUR 1.3bn as of 31 December 2020
- Aggregate Holdings SA and group companies assume debt of EUR 645m through this acquisition
- Significant net asset value appreciation
Luxembourg, 30 June 2021: Aggregate Holdings SA ("Aggregate" or the “Company”) is acquiring a portfolio of ten projects under a signed sale and purchase agreement (“SPA”). The focus of the portfolio is developments in office (53%), residential (32%), plus commercial, retail and other (15%). The combined gross construction area of the portfolio is c.1,200,000 sqm across the 10 development projects. The Company has acquired a minimum of c.75% interest in the projects.
Aggregate group companies have assumed the existing project financing arrangements for the projects, and also entered into a financing at the holding company level, together totaling EUR 645m. The purchase price of the portfolio is confidential. The project level companies will have sufficient levels of cash reserve to cover financing and project related costs until end 2022.
Disclaimer
This document and the information contained herein are for information purposes only and do not constitute a prospectus or an offer to sell, or a solicitation of an offer to buy, any securities in the United States. Any securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States absent registration or pursuant to an available exemption from registration under the Securities Act. This document does not constitute an offer document or an offer of securities to the public in the U.K. to which section 85 of the Financial Services and Markets Act 2000 of the U.K. applies and should not be considered as a recommendation that any person should subscribe for or purchase any securities as part of the Offer. This document is being communicated only to (i) persons who are outside the U.K.; (ii) persons who have professional experience in matters relating to investments falling within article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended) (the "Order") or (iii) high net worth companies, unincorporated associations and other bodies who fall within article 49(2)(a) to (d) of the Order (all such persons together being referred to as “Relevant Persons”). Any person who is not a Relevant Person must not act or rely on this communication or any of its contents. Any investment or investment activity to which this communication relates is available only to Relevant Persons and will be engaged in only with Relevant Persons. This document should not be published, reproduced, distributed or otherwise made available, in whole or in part, to any other person without the prior consent of the Company. This document contains forward-looking statements. These statements are based on the current views, expectations, assumptions and information of the management of the Company. Forward-looking statements should not be construed as a promise of future results and developments and involve known and unknown risks and uncertainties. Actual results, performance or events may differ materially from those described in such statements due to, among other things, changes in the general economic and competitive environment, risks associated with capital markets, currency exchange rate fluctuations, changes in international and national laws and regulations, in particular with respect to tax laws and regulations, affecting the Company, and other factors. The Company does not assume any obligations to update any forward-looking statements.