MAGNAT Real Estate AG: Sale of project in Germany to have a positive impact on Group results according to IFRS in fiscal year 2012/2013

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

19.03.2013 10:59

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Frankfurt am Main, March 19, 2013 - MAGNAT Real Estate AG ('MAGNAT', ISIN
DE000A0XFSF0) has sold its Delitzsch project in Germany as part of a share
deal. This transaction will result in a positive impact on earnings in the
MAGNAT Group results in accordance with IFRS. The impact will be
approximately EUR 1.3 million and will already take effect for the Group's
reported fourth quarter results for fiscal year 2012/2013 (January 1, 2013
to March 31, 2013). At the same time, the level of debt for the MAGNAT
Group will drop by approximately EUR 3.7 million as a result of the sale of
this project company.

This transaction represents a further step in the implementation of our
strategy of disposing of those investments outside of our strategic focus
and thereby reducing the complexity of the Group. MAGNAT is currently
working intensively on completing further disposals.

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