Prime Office REIT-AG / Key word(s): Disposal/Real Estate
21.11.2013 07:35
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Prime Office REIT-AG sells the 'SZ Tower' and improves its equity ratio
Munich, 21 November 2013. Prime Office REIT-AG has sold the headquarters of
publishing company Süddeutscher Verlag - the so called 'SZ Tower' - in
Munich to an international investment consortium for 164.1 million Euro.
The contract provides for a closing of the transaction by the end of
December 2013. The disposal improves the equity ratio of Prime Office
REIT-AG from 39.8% as at 30 September 2013 to almost 50% while at the same
time sustainably reducing its leverage. Thus, Prime Office REIT-AG meets a
material criterion of the business combination agreement with OCM German
Real Estate Holding AG. All of the other conditions which have to be
fulfilled for the merger by Prime Office REIT-AG and OCM German Real Estate
Holding AG are in the process of being implemented. The process is far
advanced and the merger is scheduled for completion in the first quarter of
2014.
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Information and Explaination of the Issuer to this News:
Contact
Prime Office REIT-AG
Richard Berg
Investor Relations / Corporate Communications
Hopfenstrasse 4
80335 Munich/Germany
Telephone +49 (0) 89 710 40 90 40
Facsimile +49 (0) 89 710 40 90 99
Email richard.berg@prime-office.de
21.11.2013 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: Prime Office REIT-AG
HopfenstraÃe 4
80335 München
Germany
Phone: +49 (0)89 7104090 40
Fax: +49 (0)89 7104090 99
E-mail: richard.berg@prime-office.ag
Internet: www.prime-office.ag
ISIN: DE000PRME012
WKN: PRME01
Indices: SDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard), München,
Stuttgart; Freiverkehr in Berlin, Düsseldorf
End of Announcement DGAP News-Service
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DGAP-Adhoc: Prime Office REIT-AG sells the 'SZ Tower' and improves its equity ratio
| Source: EQS Group AG