February 19, 2018 / 7:32 AM / 10 months ago

BRIEF-Adler Real Estate: Acquisition Of Stakes In Brack Capital Properties N.V.

Feb 19 (Reuters) - ADLER REAL ESTATE AG:

* ACQUISITION OF STAKES IN BRACK CAPITAL PROPERTIES N.V.

* INTENDS TO ACQUIRE UP TO 70 % IN BRACK CAPITAL PROPERTIES N.V.

* 440 NEW ISRAELI SHEKEL PER SHARE OFFERED TO ALL SHAREHOLDERS

* FULLY FUNDED WITH PROCEEDS FROM RECENT SALES AND CASH WITH NO CAPITAL INCREASE INTENDED

* IN PURCHASE AGREEMENT WITH REDZONE, ADLER AGREED ON A PURCHASE PRICE OF 440 NEW ISRAELI SHEKEL (ILS) PER SHARE

* ACQUISITION VOLUME AMOUNTS TO ILS 2.381 BILLION CORRESPONDING TO C. EUR 539 MILLION AT CURRENT EXCHANGE RATE

* ACQUISITION WILL CONTRIBUTE AN ANNUAL RENTAL INCOME OF C. EUR 45 MILLION

* EXPECTS AN ADDITIONAL EUR 20 MILLION IN FFO I PER ANNUM

* TRANSACTION WILL INCREASE VALUE OF OUR PROPERTY PORTFOLIO BY MORE THAN EUR 1 BILLION Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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