DGAP-Ad-hoc: Aggregate Holdings SA / Key word(s): Miscellaneous Ad-hoc announcement Pursuant to Art. 17 Abs. 1 of the Market Abuse Regulation (Regulation (EU) No. 596/2014) NOT FOR DIRECT OR INDIRECT PUBLICATION, DISTRIBUTION OR RELEASE IN OR INTO THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA AND JAPAN OR ANY JURISDICTION IN WHICH OFFERS OR SALES OF THE SECURITIES WOULD BE PROHIBITED BY APPLICABLE LAW.
- Fuerst is an ongoing refurbishment and repositioning project on Kurfuerstendamm in central Berlin with approximately 183,000 sqm of gross construction area - Total acquisition and development financing package of EUR 1.02bn with 2.5 year maturity - Net financing proceeds to be used to fund the acquisition and remaining refurbishment and repositioning of the project
The net proceeds of the Financing, combined with a portion of the previously issued EUR 250m 2024 bond alongside Aggregate's internal resources will fund (i) the acquisition of Fuerst under a signed sale and purchase agreement and (ii) provide the required funds to conclude the full refurbishment, repositioning and lease-up of the Project. Fuerst (the "Project") is a refurbishment and repositioning development project with approximately 183,000 sqm of gross construction area in central Berlin, of which c.60% is office and co-working spaces. The project is over 20% complete already and the development is expected to be completed in the second half of 2023. The Financing includes a capex reserve account of EUR 250m. The construction of the project is fully financed until completion. Disclaimer 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 This document should not be published, reproduced, distributed or otherwise made available, in whole or in part, to any other person without the prior consent of the Company.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.
11-Jun-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
Language: | English |
Company: | Aggregate Holdings SA |
Rue Antoine Jans 10 | |
1820 Luxembourg | |
Luxemburg | |
ISIN: | DE000A184P98 |
WKN: | A184P9 |
Listed: | Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt, Stuttgart |
EQS News ID: | 1206783 |
End of Announcement | DGAP News Service |
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1206783 11-Jun-2021 CET/CEST