euro adhoc: ALTA FIDES Aktiengesellschaft für Grundvermögen
other
ALTA FIDES
set to take over loan portfolio of EUR 60 million
. Letter of intent concluded with major international bank
. First larger transaction of the new business division
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
14.06.2007
Stuttgart, 14 June 2007. Within the group, ALTA FIDES AG, Stuttgart is now preparing the first larger transaction of the new business division of Non- Performing Loans. To that end, the subsidiary of PROFECTO AG, which was established last year, has concluded a letter of intent regarding the acquisition of a loan portfolio with a volume of approx. EUR 60 million with a major international bank. The contracts regarding the acquisition are being prepared in the short term. In addition to this, negotiations regarding the acquisition of further important portfolios are under way. "Moreover, we expect a further transaction in this field to be concluded at short notice", Norbert Ketterer, head of the management board of ALTA FIDES AG, comments.
The portfolio which has now been acquired consists of a large number of non- performing loans secured by encumbrances on properties primarily regarding residential real estate properties throughout Germany. PROFECTO AG will restructure the overall portfolio step by step together with the debtors of the cancelled claims.
Moreover, ALTA FIDES established the basis for its biggest investment project so far by acquiring a property from Deutsche Telekom with an excellent location in the city centre of Leipzig to that end last week. The planned investment volume for the development of this largely listed real estate property will amount to approx. EUR 105 million.
The Management Board
If you have further questions, please contact:
ALTA FIDES AG Norbert Ketterer Phone: +49 (0) 341 3552060 Fax: +49 (0) 341 35520699 E-mail: ir@altafides.de Internet: www.altafides.de
end of announcement euro adhoc 14.06.2007 07:19:19
Further inquiry note:
Rainer Fuchs
Vorstand
Tel.: +49 (0)341 35520690
E-Mail: ir@altafides.de
Branche: Real Estate
ISIN: DE000A0B7EZ7
WKN: A0B7EZ
Börsen: Frankfurter Wertpapierbörse / regulated dealing/prime
standard
Börse Berlin-Bremen / free trade
Baden-Württembergische Wertpapierbörse / free trade
Börse Düsseldorf / free trade