14 October 2021

WESTGRUND Aktiengesellschaft: WESTGRUND AG initiates review of strategic options

Publication of a notice pursuant to Article 17 (1) of the Market Abuse Regulation (Regulation (EU) No. 596/2014) 

NOT FOR DISTRIBUTION, PUBLICATION OR TRANSMISSION IN OR INTO THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA OR JAPAN

Berlin, 4 October 2021:

WESTGRUND Aktiengesellschaft ("WESTGRUND") has been notified that its major shareholder ADLER Real Estate AG and ADLER Group S.A. today both decided to initiate a review of strategic options after ADLER Group S.A. was approached multiple times by interested institutional parties relating to its yielding assets portfolio. Any actions would serve to reduce leverage.

Subject to the approval of its supervisory board, WESTGRUND will itself initiate a review of strategic options. The process may result in the sale of a substantial part of the yielding assets directly and indirectly held by WESTGRUND. Potential proceeds could be used for measures still to be determined.

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