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DGAP-News: MPC Münchmeyer Petersen Capital AG / Key word(s): Disposal/Investment
MPC Capital exits Dutch real estate segment in strong market momentum
- Disposal of Cairn Real Estate BV to Schroders
- Proceeds to be used to further accelerate growth in sustainable investment strategies
- Closing of the transaction expected in Q1 2022
Hamburg, 11 November 2021 -- The Hamburg-based investment manager and co-investor MPC Capital is selling its Dutch real estate activities to Schroders Capital, the private markets investment division of the Schroders Group.
The transaction comprises all shares in Cairn Real Estate BV, a wholly-owned subsidiary of MPC Capital. The net purchase price amounts to approx. EUR 30 million.
Ulf Holländer, CEO of MPC Capital: "With this transaction, MPC Capital once again proves its capability to create long-term value by building successful operating platforms.
We would like to express our sincere thanks to the team of Cairn for the pleasant and successful cooperation."
Closing of the transaction is expected for Q1 2022 and is subject to approval by the relevant regulatory authorities and other customary conditions.
The sale of Cairn is expected to contribute with a book profit in the low double-digit million euro range to the earnings before taxes (EBT) of MPC Capital Group for the financial year 2022. MPC Capital will provide a financial outlook for 2022 in Q1 2022. The financial outlook for 2021 remains unchanged (lower revenue level and a substantial improvement in EBT compared to the previous year).
Oaklins acted as financial advisor and Vriman as legal advisor to MPC Capital on the transaction.
About MPC Capital AG (www.mpc-capital.com)
This communication contains future-related statements that are to some degree subject to risks and uncertainties. Future results may deviate considerably from those currently expected due to various risk factors and uncertainties such as changes in the business, economic and competitive situation, exchange rate fluctuations, uncertainties arising from legal disputes or investigative proceedings, and access to financial resources. MPC Capital AG assumes no responsibility whatsoever for updating the future-related statements contained in this communication.
11.11.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
MPC Münchmeyer Petersen Capital AG
+49 (0)40 380 22-0
+49 (0)40 380 22-4878
Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
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