DIC Asset AG (XTRA:DIC) made an offer to acquire additional 40.95% stake in VIB Vermögen AG (XTRA:VIH1) for approximately €580 million on January 31, 2022. As per the transaction DIC Asset AG already owns 10.5% stake and plans to hold about 51% stake in VIB Vermögen AG through a public offer for a cash payment of €51 per share. The transaction will be financed from existing funds for up to €300 million and the rest of the purchase price will initially be provided via a bridge loan which, following a successful transaction, is to be refinanced through a combination of equity capital. The acceptance period starts from February 9, 2022 till March 4, 2022. The transaction is expected to complete on April 1, 2022. The transaction expected to be accretive on a FFO I per share basis. HSBC acted as financial advisor to DIC Asset. Ansgar Wimber, Catherine T. Dixon, Miranda S. Schiller and Tobias Geerling, Konrad von Buchwaldt, Felix Ganzer of Weil, Gotshal & Manges LLP, Munich acted as legal advisor to DIC Asset AG.

DIC Asset AG (XTRA:DIC) completed the acquisition of additional 36% stake in VIB Vermögen AG (XTRA:VIH1) for approximately €510 million on March 31, 2022.