RTTNews | Jan 13, 2022 01:23AM EST

01:23 Thursday, January 13, 2022 (RTTNews.com) - Adler Group S.A., on Thursday, said it has signed an agreement with KKR, a global investment firm, on the sale of about 14,400 residential and commercial units, predominantly located in medium-sized cities in eastern Germany.

The agreed purchase price corresponds to a valuation of the portfolio of EUR1.05 billion and thus a premium on the book value reported as of 30 September 2021 and independently appraised by CBRE.

Adler Group expects net cash proceeds from the transaction of around EUR600 million. With this cash inflow, Adler Group noted that it would will further deliver on its objective of deleveraging its balance sheet and achieve its strategic goal of reducing the loan-to-value ratio or LTV to below 50%.

Read the original article on RTTNews ( https://www.rttnews.com/3254716/adler-group-agrees-with-kkr-on-sale-of-about-14400-residential-commercial-units.aspx)

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