ADO Properties has successfully completed its voluntary public takeover offer for ADLER Real Estate. Commenting on the successful closing of the transaction, Thierry Beaudemoulin, Co-CEO of ADO, said: “The closing of the business combination is an important milestone on our path to creating one of the largest listed residential real estate companies in Europe. Bringing together our highly complementary portfolios will unlock significant value for shareholders while enhancing our growth prospects. We will now focus our efforts on the next step of the combination, the rebranding of the combined company into ADLER Real Estate Group which will take place in the course of the summer.”
In anticipation of the new group structure, Maximilian Rienecker, Co-CEO of ADLER, was appointed Co-CEO of ADO Properties by ADO Properties’ Board of Directors on 30 March 2020 and becomes effective today. Maximilian Rienecker, Co-CEO of ADO, added: “I look forward to working together with the teams of ADO and ADLER. We are creating one of the biggest players in the European real estate sector which delivers quality service to tenants and attractive returns to shareholders. Through our strategic partnership with Consus, we create a fully integrated housing platform in core German cities which will be uniquely positioned to address Germany’s housing shortage.”
