RAG Foundation acquires 4.8% stake in DIC Asset AG (DE)

DIC Asset AG has just been notified that the RAG Foundation based in Essen, Germany, acquired a share block of Morgan Stanley Real Estate Funds (3,262,022 shares in DIC Asset AG, representing 4.76 per cent of the total number of shares, held since IPO 2005). The transaction was signed into legal effect on 09/06/2014. The two parties involved agreed not to disclose the purchase price. The investment of the RAG Foundation was effected via its master fund managed by Deka Investment GmbH.
Dr. Helmut Linssen, Member of the Board of Executives of the RAG Foundation: “The investment in DIC Asset AG also implies a commitment to indirect investment in German commercial real estate with the prospect of attractive returns. It is a sector that represents a sustainable and substantial component in our widely diversified investment portfolio.”
Ulrich Höller, CEO of DIC Asset AG: “Being a renowned first-rate investor, the RAG Foundation shows its faith in our business model with its long-term oriented engagement.”
Aside from this change within the group of owners, the shareholding structure of DIC Asset AG remains stable: The free float is still at an unchanged 66.8 per cent, including blue-chip shareholders such as the major German family office solvia Vermögensverwaltung with 5.1 per cent, the US asset manager Ell Capital Management with 4.9 per cent and the Dutch pension fund APG Asset Management with 3.2 per cent. The remaining 33.2 per cent continue to be held by Deutsche Immobilien Chancen-Group.
Source: Dic Asset AG