Consus Real Estate AG successfully closes SSN acquisition

DGAP-News: CONSUS Real Estate AG / Key word(s): Takeover

10.12.2018 / 16:00
The issuer is solely responsible for the content of this announcement.


Consus successfully closes SSN acquisition

Berlin, 10 December 2018 - Consus Real Estate AG ("Consus", ISIN DE000A2DA414, CC1) successfully closes the acquisition of SSN Group AG as announced on the 7 November 2018. The acquisition values SSN at an implied enterprise value of c. EUR 1.1bn and will significantly increase the gross development volume (GDV) of Consus from EUR 6.2bn to EUR 9.6bn as well as the overall number of projects from 53 to 65.

Andreas Steyer, CEO of Consus, concludes: "The closing of the transaction is one of the most important milestones in the history of our company. Our group has now over 750 employees and we are fully on track to achieve our set goals through developing EUR 10bn portfolio over the coming years."

Contact

Consus Real Estate AG
Jan-Philipp Ansorg
Corporate Finance & Investor Relations
j.-p.ansorg@consus.ag

Consus Real Estate AG

Consus Real Estate AG ("Consus") a leading German property developer with c. EUR 10bn in properties under development. The focus of the Company's business activities lies on residential property in Germany's top nine economic cities. Consus specialises in the development of entire neighbourhoods ('quartiers') and standardised flats. The use of forward sales to institutional investors, the digitalisation of construction processes and industrial series production allow the Company to operate along the entire property development value chain. Consus implements projects - from the planning phase through to construction and transfer of ownership, as well as property management and the associated services - via its subsidiaries CG and SSN. Consus Real Estate AG's shares are listed in the Scale segment of Deutsche B├Ârse AG and m:access segment of the Munich Stock Exchange and are traded on XETRA in Frankfurt, among others.



10.12.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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