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Deutsche Annington Immobilien SE announces the acquisition of the SÜDEWO Group with around 19,800 apartments mainly in Baden-Württemberg, as well as a fully underwritten capital increase with subscription rights from authorised capital with gross proceeds expected to amount to EUR 2,247.6 million

Deutsche Annington Immobilien SE / Key word(s): Capital Increase

14.06.2015 22:11

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Bochum, 15 June 2015 - Today, Deutsche Annington Immobilien SE ('Deutsche
Annington') resolved to acquire SÜDEWO Group, which owns approximately
19,800 apartments managed by entities affiliated with PATRIZIA Immobilien
AG mainly in Baden-Württemberg ('SÜDEWO Group'). In this context, Deutsche
Annington has today entered into a share purchase agreement with an
investor group that holds the shares in the SÜDEWO Group, pursuant to which
Deutsche Annington will (directly or indirectly) acquire up to 94.9% of the
shares in the SÜDEWO Group companies (the 'SÜDEWO Acquisition'). Closing of
the SÜDEWO Acquisition is scheduled for 7 July 2015, but remains subject to
approval by the antitrust authorities.
The total transaction volume of approximately EUR 1.9 billion for the
SÜDEWO Acquisition comprises a purchase price of approximately EUR 1.1
billion with an additional assumption of certain financial liabilities
totaling approximately EUR 0.8 billion.

In order to finance the SÜDEWO Acquisition, the management board, following
authorisation by the supervisory board on 12 June 2015, today resolved to
launch a fully underwritten rights issue to increase its share capital
against contribution in cash with subscription rights for shareholders of
Deutsche Annington. For this purpose, the share capital of Deutsche
Annington shall, under partial utilisation of Deutsche Annington's
authorised capital 2015, be increased from EUR 358,462,018.00 by EUR
107,538,606.00 to EUR 466,000,624.00 through the issuance of 107,538,606
new registered shares with a notional value of EUR 1.00 and full dividend
rights from 1 January 2015.

The new shares shall be offered to the shareholders of the company by way
of an indirect subscription right at a ratio of 10:3 (that is 10 existing
shares of the company entitle their holder to subscribe for 3 new shares)
and a subscription price of EUR 20.90. The subscription period shall,
subject to approval of the prospectus by the German Federal Financial
Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht) and
publication of the approved prospectus, begin on 17 June 2015 and is
expected to end on 30 June 2015. Immediately following the expiration of
the subscription period, unsubscribed shares shall be placed through a
private placement at a price at least as high as the subscription price.

The subscription rights (ISIN DE000A161NC9 / WKN A161NC) to the new shares
shall be traded, subject to approval and publication of the prospectus,
during the period from 17 June 2015 up to and including 26 June 2015 (until
approximately noon CEST) on the regulated market (Xetra and Xetra Frankfurt
Specialist) of the Frankfurt Stock Exchange (Frankfurter Wertpapierbörse).
On the German stock exchanges on which the existing shares of the company
are listed ex subscription right such listing shall begin on 17 June 2015.

The offer is based on an underwriting agreement signed today between the
company and J.P. Morgan Securities plc as well as additional underwriters,
which provides for a firm commitment by the underwriters to underwrite the
new shares. Deutsche Annington expects to generate gross proceeds of EUR
2,247.6 million through the rights issue and intends to use net proceeds of
approximately EUR 1.9 billion to fund the SÜDEWO Acquisition and the
balance of approximately EUR 0.3 billion to repay secured loans and to
cover transaction costs.

It is expected that the implementation of the capital increase will be
registered by 3 July 2015 with the commercial register of the Local Court
(Amtsgericht) of Dusseldorf and that the announcement of the admission of
the new shares to trading on the regulated market of the Frankfurt Stock
Exchange (Frankfurter Wertpapierbörse), with simultaneous admission to the
sub-segment of the regulated market with further post-admission obligations
(Prime Standard), as well as to trading on the regulated market of the
Luxembourg Stock Exchange (Luxemburger Börse) will also be made on 3 July
2015. Closing of the rights issue is expected to occur on or about 7 July
2015.


14.06.2015 The DGAP 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:      Deutsche Annington Immobilien SE
              Münsterstraße 248
              40470 Düsseldorf
              Germany
Phone:        +49 234 314 2384
Fax:          +49 234 314 888 2384
E-mail:       investorrelations@deutsche-annington.com
Internet:     www.deutsche-annington.com
ISIN:         DE000A1ML7J1
WKN:          A1ML7J
Indices:      MDAX
Listed:       Regulated Market in Frankfurt (Prime Standard); Regulated
              Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich,
              Stuttgart
 
End of Announcement                             DGAP News-Service
 
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