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EQS-News: VIC Properties announces new ownership and strengthened financial structure plans

Retrieved on: 
Friday, May 5, 2023

VIC Properties S.A. (“VIC Properties”, “VIC”, “Company”), one of the largest residential real estate developers in Portugal, today announces that a group led by institutional investors and the existing VIC Management Team, has acquired the Company in a transaction with a total enterprise value of more than €670 million from Aggregate Holdings S.A. (“Aggregate”) (the “Transaction”).

Key Points: 
  • VIC Properties S.A. (“VIC Properties”, “VIC”, “Company”), one of the largest residential real estate developers in Portugal, today announces that a group led by institutional investors and the existing VIC Management Team, has acquired the Company in a transaction with a total enterprise value of more than €670 million from Aggregate Holdings S.A. (“Aggregate”) (the “Transaction”).
  • As previously announced on the 17th March 2023, the Transaction provides VIC Properties with a significantly strengthened and more flexible financial structure.
  • It demonstrates the long-term commitment of the new investors, led by AlbaCore Capital Group, Mudrick Capital Management, L.P. and Owl Creek Asset Management, L.P., to the Portuguese residential market and their confidence in the existing VIC Management Team to lead VIC Properties into a new growth phase.
  • As part of its new chapter, VIC Properties will receive new funding to continue and further accelerate the development of its residential projects in Lisbon and in the region of Comporta and Melides.

EQS-News: Aggregate Holdings S.A. enters into binding agreement in relation to sale of VIC Properties to a consortium led by institutional investors

Retrieved on: 
Friday, March 17, 2023

Luxembourg 17 March: Aggregate Holdings S.A. (“Aggregate”) announces that today it has entered into a binding agreement in relation to the sale of 100% of the share capital of its subsidiary VIC Properties S.A. (“VIC Properties”, or “VIC”), one of the largest real estate developers in Portugal, and other matters (the “Transaction”).

Key Points: 
  • Luxembourg 17 March: Aggregate Holdings S.A. (“Aggregate”) announces that today it has entered into a binding agreement in relation to the sale of 100% of the share capital of its subsidiary VIC Properties S.A. (“VIC Properties”, or “VIC”), one of the largest real estate developers in Portugal, and other matters (the “Transaction”).
  • The sale is to a consortium led by the institutional investors AlbaCore Capital Group, Mudrick Capital Management L.P. and Owl Creek Asset Management L.P., and the existing VIC management team.
  • The Transaction forms part of Aggregate’s strategy to simplify its capital structure and asset base, and refocus on its core German markets.
  • The sale of VIC will be at a premium to net tangible assets and a discount to net assets.

EQS-News: VIC Properties announces new ownership and strengthened financial structure plans

Retrieved on: 
Friday, March 17, 2023

VIC Properties S.A. (“VIC Properties”, “VIC”, “Company”), one of the largest residential real estate developers in Portugal, today announces that Aggregate Holdings S.A., has reached an agreement to sell 100% of the shares of the Company in a transaction with a total enterprise value of more than €670 million, to a group led by institutional investors and the existing VIC Management Team.

Key Points: 
  • VIC Properties S.A. (“VIC Properties”, “VIC”, “Company”), one of the largest residential real estate developers in Portugal, today announces that Aggregate Holdings S.A., has reached an agreement to sell 100% of the shares of the Company in a transaction with a total enterprise value of more than €670 million, to a group led by institutional investors and the existing VIC Management Team.
  • The transaction provides VIC Properties with a significantly strengthened and more flexible financial structure upon completion.
  • "Today marks an exciting new chapter for VIC Properties.
  • Jason Mudrick, Founder and Chief Investment Officer of Mudrick Capital Management, L.P., said: “This transaction will enable VIC Properties to accelerate its plans, building on its strong foundations.

Berkshire Hathaway HomeServices Reveals Europe, India, UAE 2023 Report

Retrieved on: 
Thursday, February 23, 2023

Berkshire Hathaway HomeServices, a global real estate brokerage franchise network, has revealed its inaugural report on Europe, India, and United Arab Emirates.

Key Points: 
  • Berkshire Hathaway HomeServices, a global real estate brokerage franchise network, has revealed its inaugural report on Europe, India, and United Arab Emirates.
  • View the full release here: https://www.businesswire.com/news/home/20230223005346/en/
    The Berkshire Hathaway HomeServices Europe | India | UAE Report explores trends and topics shaping the markets in Greece, India, Italy, Spain, Portugal, United Arab Emirates, and The United Kingdom.
  • (Graphic: Business Wire)
    “It is events like the Europe, India, and United Arab Emirates 2023 Report that further connect our community of real estate professionals around the world,” said Christy Budnick, CEO Berkshire Hathaway HomeServices.
  • “We have more castles available, or other special properties, than apartments in Milan right now,” said Marcus Benussi, managing partner and office manager at Berkshire Hathaway HomeServices MAGGI Properties Agency.

EQS-News: Aggregate Holdings SA: Half year results 2022

Retrieved on: 
Friday, October 28, 2022

Luxembourg, 28 October 2022 Aggregate Holdings S.A. (Aggregate) today publishes HY 2022 results.

Key Points: 
  • Luxembourg, 28 October 2022 Aggregate Holdings S.A. (Aggregate) today publishes HY 2022 results.
  • The first half of 2022 was a period during which Aggregate focused on disposals and refinancings, to prepare for the evolving market conditions and to increase its financial resilience.
  • In July 2022, Aggregate took further steps to strengthen its corporate governance to provide further management capacity for the current market conditions.
  • Aggregate Holdings S.A. : Invitation to conference call on 28 October, 2022, 15:00 CEST (14:00 UK)
    Aggregate Holdings invites all interested investors to the presentation of the H1 2022 Results in a telephone conference on 28 October 2022, 3:00 PM CET (2:00 PM UK).

DGAP-News: Aggregate Holdings SA: Full year results 2021

Retrieved on: 
Wednesday, June 29, 2022

Luxembourg, 29 June 2021 - Aggregate Holdings S.A. (Aggregate) today publishes FY 2021 results.

Key Points: 
  • Luxembourg, 29 June 2021 - Aggregate Holdings S.A. (Aggregate) today publishes FY 2021 results.
  • 2021 was a period of strong asset growth for Aggregate Holdings, in particular in its Build & Hold division, where Aggregate completed the acquisition of three prime, large-scale projects in Berlin with a Gross Floor Area of c.820,000 sqm.
  • Aggregate has successfully completed transformational acquisitions and financings in 2021.
  • The market value of the three projects increased from 825m at FY 2020 to 1,137m at FY 2021.

DGAP-News: Aggregate Holdings SA: Q3 2021 market update

Retrieved on: 
Monday, December 20, 2021

Aggregate Holdings S.A. focuses on core real estate holdings in Germany, with planned disposals decreasing leverage and increasing cash

Key Points: 
  • Aggregate Holdings S.A. focuses on core real estate holdings in Germany, with planned disposals decreasing leverage and increasing cash
    - LTV Guidance of c.60-65% for FY 2021, decreasing to c. 50% in the medium term
    Luxembourg, 16 December 2021 - Aggregate Holdings S.A. ("Aggregate") today publishes a third quarter update and in addition provides details on events in October and November.
  • In Financial Real Estate & Other Assets, disposals of Aggregate non-core assets continue to make progress, with three disposals signed in H2 2021.
  • Aggregate notes the short seller report published on Adler and rejects any claims against Aggregate in those short seller reports.
  • A Q3 update presentation has been published on the website of the company under investors/ results presentations: https://www.aggregateholdings.com/en/investors#results-presentation
    Aggregate Holdings S.A. : Invitation to conference call on 16 December, 2021, 15:00 (CEST)
    Aggregate Holdings invites all bond investors to the presentation of the Q3 market update in a telephone conference on 16 December 2021 at 3:00 PM CET.