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Gateway Real Estate AG sells Development Partner AG and further commercial project developments

·2-min read

Gateway Real Estate AG / Key word(s): Disposal/Real Estate
Gateway Real Estate AG sells Development Partner AG and further commercial project developments

03-Feb-2021 / 21:48 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

Gateway Real Estate AG sells Development Partner AG and further commercial project developments

Frankfurt am Main, February 03, 2021. Today, Gateway Real Estate AG (WKN A0JJTG / ISIN DE000A0JJTG7) signed a share purchase agreement for all shares of Development Partner AG as well as its business shares in three further project companies (51% of the business shares each of the project companies Revaler Straße 32 PE GmbH, Storkower Straße 140 PE GmbH and Storkower Straße 142-146 PE GmbH). Thereby, the company entirely ends its activities in the "commercial properties development" segment and will only concentrate on the residential properties area in the future. Purchasers are private investors.

The total sales proceeds are in the lower three-digit million euro range. According to preliminary calculations based on figures not yet finally audited, the positive deconsolidation result on the balance sheet at group level is expected in the lower double-digit million euro range.

Closing of the share purchase is subject to conditions precedent and is intended for the beginning of March 2021.
 

Contact:
Sven Annutsch
The Squaire No. 15
60549 Frankfurt am Main
T +49 (0) 69 78808800 0
F +49 (0) 69 78 80 88 00-99
E-Mail: sven.annutsch@gateway-re.de

03-Feb-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language:

English

Company:

Gateway Real Estate AG

THE SQUAIRE - Zugang N°15,Am Flughafen 1

60549 Frankfurt/Main

Germany

Phone:

+49 (0) 69 788 088 00 -0

Fax:

+49 (0) 69 788 088 00 - 99

E-mail:

info@gateway-re.de

Internet:

www.gateway-re.de

ISIN:

DE000A0JJTG7

WKN:

A0JJTG

Listed:

Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart

EQS News ID:

1165654


 

End of Announcement

DGAP News Service

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