Following the enforcement of a pledge, Vonovia holds 20.5 percent of the shares in the Adler Group
Bochum, February 22, 2022 – By way of enforcement of a pledge, 20.5 percent of the shares in Adler Group previously held by Aggregate Holdings Invest S.A. have been transferred to Vonovia SE. The shares had been pledged as collateral for a loan that Vonovia had granted to Aggregate Holdings Invest on 7 October 2021 to replace a bank loan of Aggregate Holdings Invest. By taking this step, Vonovia is protecting itself against a loss of its receivable following a failure by Aggregate Holdings Invest to provide contractually agreed cash collateral. The exercise of voting rights from these shares by Vonovia is subject to anti-trust clear-ance.
The enforcement of the pledge is a consequence of the credit exposure and was necessary to protect Vonovia's financial interests. Further deci-sions are not prejudiced by these measures – Vonovia retains all options, including the full or partial sale of the shares.