Ad-hoc | 20 December 2012 07:53
PATRIZIA Immobilien AG / Key word(s): Acquisition/Strategic Company Decision
20.12.2012 07:53
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PATRIZIA Immobilien AG acquires UK based Tamar Capital Group
- Fund and real estate assets of approx. GBP 560 million (approx. EUR 690
million)
- Presence in United Kingdom, Germany, France, Ireland, Scandinavia and
Belgium
- Focus on commercial real estate (including industrial, retail and
office properties)
Augsburg, 20 December 2012. PATRIZIA Immobilien AG (ISIN DE000PAT1AG3)
concluded the agreement to acquire all shares in Tamar Capital Group Ltd,
an owner-managed real estate investment and asset management company
headquartered in London, UK. At the request of the vendors, the parties
have agreed to maintain confidentiality regarding the purchase price. With
the acquisition of Tamar Capital Group Ltd, PATRIZIA Immobilien AG is also
acquiring offices located in various core European markets. Completion of
the purchase agreement is subject to approval by the British Financial
Services Authority (FSA) regarding the change of control at Tamar Financial
Services Ltd, a subsidiary of Tamar Capital Group Ltd which is regulated by
the financial supervisory body.
Including all investments of Tamar European Industrial Fund, which is
listed on the London Stock Exchange, Tamar Capital Group Ltd currently
manages real estate assets totaling approx. GBP 560 million (approx. EUR
690 million). Besides its principal market, the United Kingdom, Tamar
Capital Group Ltd operates in the German, French, Irish, Scandinavian and
Belgian markets, with a focus on industrial, retail and office properties.
The acquisition of Tamar Capital Group Ltd is another logical step in
PATRIZIA Immobilien AG's pursuit of the strategic goal of expanding its
business activities in other European countries and of establishing itself
as a leading Europe-wide full-service provider for real estate investment
and co-investor. Acquiring Tamar Capital Group Ltd thus offers PATRIZIA
Immobilien AG the possibility to strengthen its presence in various core
European markets, especially in the United Kingdom and France, thereby
expanding its service offering, investor commitment and consequently the
volume of managed investments in the area of commercial real estate
throughout Europe. Furthermore, the integration of the Tamar Group into the
PATRIZIA group of companies is anticipated to create considerable synergies
in the areas of real estate expertise, knowledge of the European market and
service besides the strategic aspects of market positioning.
Tamar Capital Group Ltd will be included as a 100% subsidiary in the
financial accounts of the PATRIZIA Group from January 2013.
The Managing Board
Augsburg, 20 December 2012
PATRIZIA Immobilien AG
PATRIZIA Bürohaus
Fuggerstrasse 26
86150 Augsburg
Listing: Frankfurt Official Market (Prime Standard)
ISIN: DE000PAT1AG3
SIN: PAT1AG
Contact
Investor Relations Press
Margit Miller Andreas Menke
T +49 821 50910-369 T +49 821 50910-655
F +49 821 50910-695
Verena Schopp de Alvarenga presse@patrizia.ag
T +49 821 50910-351
F +49 821 50910-399
investor.relations@patrizia.ag
20.12.2012 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: PATRIZIA Immobilien AG
Fuggerstraße 26
86150 Augsburg
Germany
Phone: +49 (0)821 - 509 10-000
Fax: +49 (0)821 - 509 10-999
E-mail: investor.relations@patrizia.ag
Internet: www.patrizia.ag
ISIN: DE000PAT1AG3
WKN: PAT1AG
Indices: SDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, Hamburg, Hannover, München, Stuttgart
End of Announcement DGAP News-Service
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