EQS-Adhoc: Corestate Capital Holding S.A.: Corestate disposes CRM Students – focus on core business asset management
EQS-Ad-hoc: Corestate Capital Holding S.A. / Key word(s): Strategic Company Decision/Disposal
Corestate Capital Holding S.A.: Corestate disposes CRM Students – focus on core business asset management
16-Oct-2023 / 11:27 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
Corestate disposes CRM Students – focus on core business asset management
Luxembourg, 16 October 2023 – The Board of Management of Corestate Capital Holding S.A. ("Corestate") has decided today to sell CRM Students Ltd, Oxford ("CRM") and thereafter Upartments Real Estate GmbH, Leipzig ("Upartments") to Dot Group, London. The associated carve-out of the student and serviced apartment operations is part of Corestate's strategic focus on asset and investment management as its core business. Both transactions are subject to the usual conditions precedent and are expected to be completed during the fourth quarter of 2023. Corestate expects a total cash inflow of around € 13 million, including the repayment of intra-group financing and positions from working capital. The cash inflows will increase the redemption capacity of the Group provided for in the restructuring concept.
Notifying person:
Dr. Kai Gregor Klinger
Chief Markets Officer
T: +49 69 3535630107
M: +49 152 22755400
ir@corestate-capital.com
End of Inside Information
16-Oct-2023 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com
End of Announcement EQS News Service
1749637 16-Oct-2023 CET/CEST