DGAP-News: Adler Group S.A.: Statement on the loss notification of Consus Real Estate AG pursuant to § 92 (1) AktG

Adler Group S.A.: Statement on the loss notification of Consus Real Estate AG pursuant to § 92 (1) AktG

 

Luxembourg, 17 May 2022 – As a result of the impairment of the goodwill resulting from the acquisition of Consus Real Estate AG ("Consus") in the consolidated financial statements for the 2021 financial year of Adler Group S.A. ("Adler"), it is most likely that Consus will also make impairments of investments and loans to affiliated companies due to increased construction costs and a significant reduction in the expected project development volume. This has led to a loss notification by Consus pursuant to Section 92 par. 1 of the German Stock Corporation Act (AktG), as the company's balance sheet equity (HGB) amounts to less than half of the share capital.

Adler is aware of its responsibility as the majority shareholder of Consus – with a stake of more than 90% – and will work towards the strengthening and continuation of Consus in the interest of all stakeholders of Adler and Consus. Against this background, Adler is in principle prepared to evaluate measures to strengthen the equity of Consus.

 

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