Aberdeen strengthens German operation with acquisition of DEGI (DE)

Aberdeen builds on an established presence in Germany and reinforces its position as a leading property fund manager in the European market, while DEGI finds the right international partner for its continued growth.

Aberdeen Asset Management PLC ("Aberdeen"), the UK-listed global asset manager, today announces that it will acquire DEGI Deutsche Gesellschaft für Immobilienfonds mbH ("DEGI") from Dresdner Bank AG, with the sales agreement having been signed in Frankfurt today. The acquisition will enhance the position of the property investment division of Aberdeen, Aberdeen Property Investors, as one of Europe's largest property fund managers, increasing assets under management by €6.4 billion to approximately €20 billion. In addition, it will broaden and increase the overall assets that Aberdeen manages on behalf of German clients within equity, fixed income and property portfolios.

The transaction has several benefits for both parties: It will strengthen Aberdeen's real estate activities in the strategically important German market, with DEGI offering complementary products and expertise to Aberdeen. Additionally, DEGI will be able to draw on Aberdeen's local presence in property markets around the world and capitalise on the growth potential offered to its international business, as part of the enlarged group. Aberdeen and DEGI will offer a broad and comprehensive product range to clients and will benefit from the higher capabilities of a combined property fund management business.

Source: Aberdeen Property

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