DGAP-News: TTL Beteiligungs- und Grundbesitz-AG
/ Key word(s): Investment
TTL Real Estate GmbH, an affiliated company of TTL Beteiligungs- und Grundbesitz-AG ("TTL AG", "TTL") (ISIN DE0007501009) has increased its direct stake in DIC AssetAG (ISIN DE000A1X3XX4) from around 5 percent to 7.1 percent. The newly acquired 2.3 million shares were subscribed to as part of a capital increase by DIC AssetAG at a placement price of EUR 16 per share.
"DIC AssetAG's excellent business development confirms our investment strategy", says Theo Reichert, CEO of TTL AG. DIC Asset's operating profit (funds from operations) increased by 40 percent to EUR 95 million last year, while assets under management rose significantly to EUR 7.6 billion. For financial year 2020, DIC AssetAG is forecasting further significant growth in earnings, with operating profit (funds from operations) again expected to increase significantly to EUR 104 million up to EUR 106 million. "Based on these figures and prospects, we consider the DIC Assetshare to be extremely attractive and plan to further expand our investment. In addition, we acknowledge the 37.5 percent increase in the proposed dividend of EUR 0.66 per DIC share for the 2019 financial year", said Reichert.
Besides the expansion of its direct investment in DIC AssetAG, TTL will continue its growth course by making further investments as part of its investment strategy.
Media and Investor Relations contact
|Company:||TTL Beteiligungs- und Grundbesitz-AG|
|Phone:||+49 (0)89 381611-0|
|Fax:||+49 (0)89 3915-92|
|Listed:||Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||958273|
|End of News||DGAP News Service|