MAGNAT Real Estate AG: MAGNAT acquires the assets of the co-investor R-QUADRAT Capital Beta GmbH – terminates business relationship with RQCB

MAGNAT Real Estate AG  / Key word(s): Real Estate/Agreement

30.01.2012 18:32

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MAGNAT acquires the assets of the co-investor R-QUADRAT Capital Beta GmbH -
terminates business relationship with RQCB

Frankfurt am Main, January 30, 2012 - MAGNAT Real Estate AG ('MAGNAT', ISIN
DE000A0XFSF0) is announcing that it has entered into an agreement to
acquire all assets of its co-investor R-QUADRAT Capital Beta GmbH ('RQCB').
The agreement primarily covers the minority interest that RQCB has held in
some of MAGNAT's projects. In 2011, as reported earlier, an insolvency
proceeding against the assets of RQCB was initiated according to Austrian
Insolvency Code. Today's agreement was reached between MAGNAT and the
liquidator of RQCB.

In addition, the agreement covers the termination of all mutual receivables
and liabilities. This would terminate all business relationships between
MAGNAT and RQCB. The agreement is among others subject to approval and must
be in legal accordance with the restructuring plan filed with the court by
RQCB.

The sum of EUR 8 million was agreed and is comprised of the purchase price
and compensation for all mutual receivables. The closing of the transaction
is expected by the end of February 2012.


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Language:     English
Company:      MAGNAT Real Estate AG
              Lyoner Straße 32
              60528 Frankfurt am Main
              Germany
Phone:        +49 (0)69  / 719 189 79 0
Fax:          +49 (0)69  / 719 189 79 11
E-mail:       info@magnat.ag
Internet:     www.magnat.ag
ISIN:         DE000A0XFSF0
WKN:          A0XFSF
Listed:       Regulierter Markt in Frankfurt (General Standard);
              Freiverkehr in Berlin, Stuttgart
 
End of Announcement                             DGAP News-Service
 
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