UK markets closed
  • NIKKEI 225

    26,215.79
    +278.58 (+1.07%)
     
  • HANG SENG

    17,079.51
    -143.32 (-0.83%)
     
  • CRUDE OIL

    83.31
    +3.82 (+4.81%)
     
  • GOLD FUTURES

    1,704.00
    +32.00 (+1.91%)
     
  • DOW

    29,487.79
    +762.28 (+2.65%)
     
  • BTC-GBP

    17,344.12
    +227.96 (+1.33%)
     
  • CMC Crypto 200

    444.97
    +9.61 (+2.21%)
     
  • ^IXIC

    10,802.99
    +227.37 (+2.15%)
     
  • ^FTAS

    3,773.80
    +10.32 (+0.27%)
     

Aggregate Holdings streamlines and strengthens capital structure

·3-min read

DGAP-News: Aggregate Holdings SA / Key word(s): Statement
Aggregate Holdings streamlines and strengthens capital structure
09.09.2022 / 09:38 CET/CEST
The issuer is solely responsible for the content of this announcement.

Aggregate Holdings streamlines and strengthens capital structure

  • As part of the €456m sale of QH Core and QH Spring, Aggregate 2024 Bonds will be used to reduce net debt and reduce leverage

  • Following the closing of the QH Core transaction, all material commitments between Aggregate and Vivion have been settled

Luxembourg, 9 September 2022.  Following the sale of two segments of its landmark Quartier Heidestrasse project (“QH”) in Berlin, Aggregate Holdings SA (“Aggregate”) has significantly reduced net debt and has addressed prior outstanding commitments between Aggregate and Vivion group.

As part of the €456m sale of QH Core and QH Spring, the equity purchase price of €219m will be paid with 5.5% 2024 Aggregate Bonds. This will reduce Aggregate’s net debt and leverage, and will simplify and streamline Aggregate’s capital structure.

Following the closing of the QH Core transaction, there are no remaining commitments between Aggregate and Vivion, including no outstanding pledges of any subsidiaries relating to the acquisition of Fuerst. The only outstanding commitments with Vivion relate to the closing of the sale of QH Spring.

“With this major milestone having been completed, my colleagues and I will continue our strategy of strengthening our capital structure and growing the value of our portfolio”, commented Cevdet Caner, Chief Executive Officer of Aggregate Holdings.

Contact
Benjamin Lee, Chief Financial Officer
Tel : +352 20 30 14 60
Mob : +44 7415 121218
b.lee@aggregateholdings.com

Boris Lemke, Investment Director
Tel : +352 20 30 14 60
Mob : +44 7943 025474
b.lemke@aggregateholdings.com

Dr Christoph Walther, Consigliere Consult
Mob : +49 151 12241630
christoph.walther@consigliere-consult.com

Xander Heijnen, Consigliere Consult
Mob : +49 172 811 9728
xander.heijnen@consigliere-consult.com


About Aggregate Holdings

Aggregate Holdings SA (“Aggregate”) is a predominantly German-focused real estate investment company, with significant presence also in Portugal. As at FY 2021, the company had €7.9bn of assets and a project portfolio with €9.9bn Gross Development Value. In its Build & Hold division, Aggregate owned Quartier Heidestrasse, the largest mixed use real estate development project in central Berlin with c.297,000 sqm of gross floor area (“GFA”), Fuerst, the prime commercial asset located on Kurfuerstendamm in central Berlin with c.183,000 sqm of GFA, and Walter and Green Living projects in Berlin with a combined GFA of c.634,000 sqm. Aggregate also owns in its Build & Sell division VIC Properties, the largest real estate developer in Portugal with c.570,000 sqm of GCA and €3.1bn Gross Development Value. Additionally, Aggregate holds a c.6% strategic stake in Adler Group SA, among other investments.


09.09.2022 CET/CEST 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.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language:

English

Company:

Aggregate Holdings SA

Rue Antoine Jans 10

1820 Luxembourg

Luxemburg

ISIN:

LU1922424012

WKN:

A2PAUX

Listed:

Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt, Stuttgart; Luxembourg Stock Exchange

EQS News ID:

1437801


 

End of News

DGAP News Service

show this
show this