on Branicks Group AG (isin : DE000A1X3XX4)
Branicks Continues Strategic Realignment and Debt Reduction
Frankfurt am Main, 28 June 2024. Branicks Group AG, Germany's leading listed real estate company, has announced further progress in its strategic realignment and financial consolidation. The company successfully transferred office properties in Mannheim, Frankfurt, and Düsseldorf to VIB Vermögen AG for EUR 125.8 million. These properties, with a total rental area of 38,280 sqm, are well-let and support VIB's strategic development.
Branicks also reported the reduction of its loan liabilities by repaying EUR 40 million of the VIB bridge financing. This reduces the residual bridge financing to EUR 120 million, which is scheduled to be fully repaid by the end of 2024.
The CEO of Branicks Group AG, Sonja Wärntges, expressed satisfaction with the company's progress in debt reduction and strategic reshaping. Branicks aims to position itself as a prominent real estate holder in logistics, office, and renewable assets, while also providing innovative consulting services.
R. E.
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