14.02.2017
DEUTZ AG DE0006305006
DGAP-Adhoc: DEUTZ AG: Sale of the Cologne-Deutz site being examined
DGAP-Ad-hoc: DEUTZ AG / Key word(s): Real Estate
DEUTZ AG: Sale of the Cologne-Deutz site being examined
14-Feb-2017 / 18:42 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR, transmitted by
DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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As part of the optimisation of DEUTZ's network of sites, the relocation of
the Cologne-Deutz facility - most recently used for the production of
engine components - to the Cologne-Porz site was recently completed. The
Cologne-Deutz site, which covers around 160,000 square metres, is owned by
the DEUTZ GROUP. A development proposal for the vacated site is currently
going through the planning process. The aim is to redevelop the site, which
is close to the Rhine, in order to create a new city district with a high
proportion of housing.
DEUTZ AG's Board of Management has now decided to examine whether the site
can be sold quickly - before the development planning process has been
completed - on attractive terms. The Board of Management has also
authorised the initiation of negotiations on selling the site.
If the outcome of these negotiations is positive, DEUTZ may be able to
generate a one-off gain in the mid to high double-digit million euros
within a short period of time, depending on the specific contractual
arrangements.
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14-Feb-2017 CET/CEST The DGAP Distribution Services include Regulatory
Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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Language: English
Company: DEUTZ AG
Ottostraße 1
51149 Köln (Porz-Eil)
Germany
Phone: +49 (0)221 822 0
Fax: +49 (0)221 822 3525
E-mail: [email protected]
Internet: www.deutz.com
ISIN: DE0006305006
WKN: 630500
Indices: SDAX
Listed: Regulated Market in Dusseldorf, Frankfurt (Prime
Standard); Regulated Unofficial Market in Berlin, Hamburg,
Hanover, Munich, Stuttgart, Tradegate Exchange
End of Announcement DGAP News Service
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544569 14-Feb-2017 CET/CEST
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