ADO Properties S.A. (XTRA:ADJ) exercised its option to acquire an additional 51% stake in Consus Real Estate AG (XTRA:CC1) from Aggregate Holdings S.A. for approximately €410 million on June 29, 2020. Under the terms, ADO will acquire 69.6 million shares of Consus and will issue 0.239 of its own shares as consideration for each share acquired. Post completion, ADO Properties will launch a tender offer at the same terms as this transaction. Upon settlement of the call option and ADO acquiring control, Andreas Steyer (Chief Executive Officer, Consus) and Benjamin Lee (Chief Financial Officer, Consus) will leave Consus and during an interim period will continue to support it. Jürgen Kutz (Speaker of the management board of Consus RE AG (former CG Gruppe AG)) and Theodorus Gorens (Chief Risk Officer and Deputy-Chief Financial Officer, Consus) will lead the newly established development arm of ADO going forward. Maximilian Rienecker (Co-Chief Executive Officer, ADO) and Thierry Beaudemoulin (Co-Chief Executive Officer, ADO) intend to join the supervisory board of Consus. J.P. Morgan and Kempen & Co are acting as financial advisors and Roger Kiem, Tobias Heinrich, Lutz Krämer, Gernot Wagner, Rebecca Emory, Thilo Diehl, Stefan Bressler, Bodo Bender, Karsten Wöckener, Andreas Lischka, Alexander Kiefner and Holger Wolf, Sebastian Pitz and Tim Bracksiek of White & Case is acting as legal adviser to ADO.

ADO Properties S.A. (XTRA:ADJ) completed the acquisition of additional 51% stake in Consus Real Estate AG (XTRA:CC1) from Aggregate Holdings S.A. on July 6, 2020.