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    VNA   DE000A1ML7J1

VONOVIA SE

(VNA)
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Vonovia Acquires Purchase Option for Stake in Adler Group

10/08/2021 | 12:48am EST

By Ed Frankl

German real-estate giant Vonovia SE acquired a purchase option for a 13.3% stake in Adler Group SA, Adler shareholder Aggregate Holdings SA said on Thursday.

The price is significantly more than Adler's latest closing share price and the call option has a term of 18 months, Aggregate said.

Frankfurt-listed shares in Adler closed on Thursday at 11.55 euros ($13.34).

Shares in Luxembourg-based Adler climbed on Monday after it said it would review strategic options for its real-estate portfolio, having received approaches from potential buyers.

However, the shares subsequently fell back after short seller Viceroy Research accused Adler of overstating its property values. Adler has rejected the claims.

Aggregate has a 26.6% stake in Adler, according to Aggregate's website.

Write to Ed Frankl at edward.frankl@dowjones.com

(END) Dow Jones Newswires

10-08-21 0248ET

Stocks mentioned in the article
ChangeLast1st jan.
ADLER GROUP S.A. 34.45% 11.61 Delayed Quote.-70.22%
VONOVIA SE -0.31% 48.85 Delayed Quote.-12.46%
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Financials
Sales 2021 2 385 M 2 706 M 2 706 M
Net income 2021 4 261 M 4 835 M 4 835 M
Net Debt 2021 33 529 M 38 045 M 38 045 M
P/E ratio 2021 6,49x
Yield 2021 3,51%
Capitalization 28 188 M 31 771 M 31 984 M
EV / Sales 2021 25,9x
EV / Sales 2022 22,8x
Nbr of Employees 16 051
Free-Float 74,1%
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Number of Analysts 13
Last Close Price 49,00 €
Average target price 63,99 €
Spread / Average Target 30,6%
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Rolf Buch Chairman-Management Board & CEO
Helene von Roeder Chief Financial Officer
Jürgen Fitschen Chairman-Supervisory Board
Marcel Kleifeld Head-Human Resources & Technical Services
Klaus Rauscher Independent Member-Supervisory Board
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