DGAP-Adhoc: JK Wohnbau AG: Ad Hoc Announcement

 | Source: EQS Group AG EQS Group AG 

JK Wohnbau AG  / Key word(s): Offer

11.10.2011 09:06

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

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JK Wohnbau AG is currently engaged in strategic discussions with Grand City
Property Group which may include acquisition of controlling interest in JK
Wohnbau AG by Grand City
 
JK Wohnbau AG confirmed today that JK Wohnbau AG and Grand City have been
in discussion to jointly develop property markets / business in and around
Munich
 
The Munich property market has been very strong and JK has continued to
build its project pipeline which now exceeds 1bn EUR. Grand City perceives
JK as a strategic platform to enter the Munich property market
 
Such a strategic collaboration is likely to include the acquisition of a
majority stake in JK Wohnbau AG by Grand City Property Group
 
About Grand City Property:
Grand City Property Group is owned by Israeli Investors and led by Israel
businessmen Yakir Gabay. Grand City is investing substantially into German
Real Estate and currently has a property portfolio of more than 2 bn EUR in
German and European property with some 13.000 apartments across Germany and
employs some 3500 employees across Europe throughout its property and hotel
management business. Grand City is currently the largest hotel owner in
Germany and second largest hotel operator in Germany, with over 100 hotels
and a AA rating of Treugast.
 
About JK Wohnbau AG:
JK Wohnbau AG is a leading residential property developer focused on the
Munich property market. JK Wohnbau currently develops and builds
residential projects in Munich with a total sales volume of ca. 1bn. EUR.


JK Wohnbau AG | Eva Romstätter   
Leopoldstraße 8 | 80802 Munich
Phone: +49 (0)89 38 99 84-0 | Fax: +49 (0)89 38 99 84-760   
E-Mail: e.romstaetter@jkwohnbau.de | Web: www.JKWohnbau.de




11.10.2011 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

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Language:     English
Company:      JK Wohnbau AG
              Leopoldstraße 8
              80802 München
              Germany
Phone:        +49 (0)89 38 99 84-0
Fax:          +49 (0)89 38 99 84-760
E-mail:       info@JKWohnbau.de
Internet:     www.JKWohnbau.de
ISIN:         DE000A1E8H38
WKN:          A1E8H3
Listed:       Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
              in Berlin, Düsseldorf, München, Stuttgart
 
End of Announcement                             DGAP News-Service
 
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