Gateway Real Estate AG / Release of an announcement according to Article 111c of the AktG [the German Stock Corporation Act] Gateway Real Estate AG acquires land for predominantly residential development in Leipzig Berlin, July 8, 2021. Gateway Real Estate AG (WKN A0JJTG / ISIN DE000A0JJTG7) ("Gateway") acquires land for predominantly residential development in resource-saving wood construction method in Leipzig. To this end, the company has today concluded a purchase agreement with Imfarr Beteiligungs GmbH ("Imfarr") and SN Beteiligungen Holding AG ("SNBH") for the acquisition of their shares (Imfarr 50% each, SNBH 39.9% each, together 89.9% each) in Virtus Sechsundzwanzig Beteiligungs GmbH and Baufeld 23 Entwicklungs GmbH. The purchase price amounts to approx. 54,000 EUR with simultaneous assumption of the proportionate loan liabilities in the amount of approx. EUR 210 million. The property subject to purchase offers potential for the development of a total of around 320,000 sqm of floor space. According to the assessment of the management board of Gateway, the conditions of the acquisition are in line with the market on the basis of comparative prices for properties of a similar type, size, condition, development potential and location. The closing of the share purchase is still subject to conditions precedent and is scheduled for the first quarter of 2022 at the latest. SNBH is a related party to Gateway according to section 111a German Stock Corporartion Act (Aktiengesetz; AktG), as the company is controlled by Norbert Ketterer, the current major shareholder (last voting rights notification as of 07th May 2020: 66.24%) and chairman of the supervisory board of Gateway. In addition, Jan Hendrik Hedding, an additional supervisory board member of Gateway, holds the office of director at SNBH. Against this background, Norbert Ketterer and Jan Hendrik Hedding did not participate in today's resolution of Gateway's Supervisory Board. Contact Sven Annutsch 08.07.2021 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
| Language: | English |
| Company: | Gateway Real Estate AG |
| Hardenbergstraße 28a | |
| 10623 Berlin | |
| Germany | |
| Internet: | www.gateway-re.de |
| End of News | DGAP News Service |