ADO Properties and Adler Real Estate have completed their tie-up to create one of the largest listed real estate companies in Europe.
Luxembourg-headquartered ADO said its takeover of Germany’s Adler has been accepted by almost 92% of Adler’s shareholders.
The enlarged group, which will rebrand as Adler Real Estate Group, will be led by ADO’s Thierry Beaudemoulin and Adler’s Maximilian Rienecker as co-chief executives.
“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,” said Beaudemoulin.
“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, which will take place in the course of the summer.”
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