Berlin, 8 May 2020 - Today, the Management Board of Consus Real Estate AG ("Consus"), with the approval of the Supervisory Board, has resolved to divest 17 development projects with a GDV of EUR 2.3 billion. The development projects have been sold to Gröner Group GmbH, which is controlled by Christoph Gröner, for a premium to the market values appraised as of 31 December 2019. Consus will reduce its project finance debt by around EUR 475 million due to this transaction, and receive a material cash payment.
Following this transaction, the GDV will decrease from EUR 12.3 billion to EUR 10.0 billion and the number of development projects will decrease from 65 to 48.
In addition to the divestments, the Management Board has in principle resolved, with the approval of the Supervisory Board, to acquire the outstanding 25% minority stake in Consus RE AG (on a fully diluted basis) primarily for new shares in Consus and a cash component. The acquisition of the minority stake will be structured by way of a capital increase against contribution in kind without subscription rights for the share component. The minority stake shall be acquired from a current shareholder of Consus RE AG, which is controlled by Christoph Gröner. 
The divestments and the capital increase by contribution in kind are expected to close not later than in Q3 2020.



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