DGAP-News: DIC Asset AG / Key word(s): Takeover/Investment
DIC Asset AG acquires leading German logistics specialist RLI Investors
– Strategic decision implemented: expansion of the logistics asset class
– Value-enhancing acquisition is budgeted to contribute c. EUR 4 million to the EBITDA as early as 2021
– Assets under management increase by more than EUR 700 million
– Expansion of the investor base
Frankfurt am Main, 23 December 2020. Today, DIC Asset AG (ISIN: DE000A1X3XX4), one of Germany’s leading listed property companies, signed the agreement to acquire 100% of the shares in the Munich-based company RLI Investors GmbH along with a minority stake of 25% in the company Realogis Holding GmbH (“Realogis”), also based in Munich. The purchase price approximates EUR 42 million. The transfer to the DIC Asset group of companies will take place at the beginning of the first quarter of 2021. The value-enhancing acquisition will probably contribute c. EUR 4 million to the group’s EBITDA and increase the FFO per share as early as 2021.
“This is a major forward-looking decision for the company,” elaborates Sonja Wärntges, the Chief Executive Officer (CEO) of DIC Asset AG, as she comments on the two acquisitions. “Especially as this peculiar year is drawing to a close, we are demonstrating once again that we have the agility and quality to respond quickly to the market and to detect, seize and capitalise on growth opportunities for the company. We now have outstanding teams and competencies aboard that will help us to keep expanding the logistics asset class within the group – including beyond the borders of Germany.” This goes both for the proprietary portfolio and for the Institutional Business.
RLI Investors has been growing steadily in recent years, and has become the leading player in its field, not least due to its highly experienced staff. With the acquisition of RLI Investors, the assets under management of DIC Asset AG will increase by c. EUR 700 million. In addition, the existing investors of RLI Investors perfectly complement the Group’s investor base.
“The sector expertise in regard to logistics investment products will very smoothly integrate into our existing product line-up, which we intend to keep expanding for international institutional investors, too,” explains Sonja Wärntges, CEO of DIC Asset AG.
Based in Munich, RLI Investors GmbH is one of Germany’s leading independent logistics real estate investors, employing 16 staff in its offices in Berlin and Munich and having more than EUR 700 million in assets under management on behalf of institutional investors such as pension funds, family offices and international asset managers who seek to commit their capital in yield-driven investments, to diversify their portfolio and to benefit from the attractive asset class of logistics real estate together with RLI Investors. Not just its special know-how but also its well-developed network in the real estate industry as well as its strong transaction performance make RLI Investors a sought partner in the dynamic and fast-growing investment market for logistics real estate.
Based in Munich, Realogis Holding GmbH (“Realogis”) is Germany’s market-leading independent consultancy in the industrial and logistics sector. Realogis employs 60 staff in seven branch offices across Germany. Ever since it was formed in 2005, Realogis has sought to be the market leader in the field of consultancy, letting and selling of industrial and logistics properties. Realogis will continue to operate in the market under the Realogis brand while ensuring market neutrality and independence.
About DIC Asset AG:
Taking an active asset management approach, DIC Asset AG employs its proprietary, integrated real estate management platform to raise capital appreciation potential company-wide and to boost its revenues.
In its Commercial Portfolio division (EUR 2.1 billion in assets under management), DIC Asset AG acts as proprietor and property asset holder, and thus generates revenues both from the management of the assets and through the value optimisation of its own real estate portfolio.
In its Institutional Business division (EUR 6.6 billion in assets under management), which operates under the name GEG German Estate Group, DIC Asset AG generates income by structuring and managing investment vehicles with attractive dividend yields for national and international institutional investors.
DIC Asset AG has been SDAX-listed since June 2006.
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