Corestate Capital Holding S.A.: Acquisition of Helvetic Financial Services AG and integration of Hannover Leasing Group; guidance 2017 for net income raised to EUR 85-90 million
DGAP-Ad-hoc: Corestate Capital Holding S.A.: Acquisition of Helvetic Financial Services AG and integration of Hannover Leasing Group; guidance 2017 for net income raised to EUR 85-90 million
Corestate Capital Holding S.A. / Key word(s): Takeover/Mergers & Acquisitions
01-Jul-2017 / 08:42 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
CORESTATE Capital Holding S.A.: Acquisition of Helvetic Financial Services AG and integration of Hannover Leasing Group; guidance 2017 for net income raised to EUR 85-90 million
CORESTATE Capital Holding S.A. (CORESTATE) today contractually agreed the acquisition of all shares in Helvetic Financial Services AG (HFS), based in Wollerau (Switzerland). With the acquisition of HFS, CORESTATE will expand its value proposition to include mezzanine real estate financing and grow its fund business.
Upon closing of the two transactions, i.e. HFS and Hannover Leasing Group (HL), CORESTATE’s assets under management will increase to EUR 20 billion. As a result, CORESTATE will position itself as a leading listed asset and investment manager with a focus on real estate equity, debt and alternative assets in the German-speaking region.
The acquisition of HL will be financed out of company funds. The purchase price for HFS in the mid three-digit million range will be financed by the issuance of 7.4 million new shares in exchange for non-cash contributions from the authorised capital to HFS shareholders as well as by debt capital and own funds.
In view of these acquisitions and a positive market outlook, CORESTATE raises its guidance for the ongoing financial year 2017. Net income before one-off items increases from EUR 36-37 million to 85-90 million.
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About CORESTATE Capital Holding S.A.
CORESTATE Capital Holding S.A. (CORESTATE) is an investment manager and co-investor with EUR 20bn* in assets under management. As a fully integrated real estate platform, CORESTATE offers its clients combined expertise in the areas of investment and fund management as well as real estate management services. The company operates as a respected business partner of institutional clients and wealthy private investors internationally. CORESTATE is headquartered in Luxembourg and has 29 offices including in Frankfurt, London, Madrid, Singapore and Zurich. The company employs over 470 people and is listed on the Frankfurt Stock Exchange. Further information is available at www.corestate-capital.com.
*Following the completion of the Hannover Leasing Group and HFS Helvetic Financial Services AG
This ad hoc announcement may contain forward-looking statements based on current assumptions and forecasts made by our management. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of our company and the estimates given here. These factors include those discussed in our public reports, which are available on our website at [ir.corestate-capital.com]. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof.