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Summit Germany considers spinning out German real estate

Summit Germany takes control of GxP German Properties

Summit Germany considers spinning out German real estate – Summit Germany has announced that it is considering a private placement and listing of shares in Summit Luxco S.à r.l. (“Luxco”) on the regulated market of the Frankfurt Stock Exchange (Prime Standard) in 2019, subject to market conditions.

Luxco currently is a wholly-owned subsidiary of Summit and holds all of its German real estate assets, including asset and property management operations. Summit is considering the listing to provide investors with the opportunity to invest in Summit’s German real estate business and to facilitate Luxco’s growth in Germany through the execution of its existing development pipeline and additional acquisitions of commercial real estate properties.

Going forward, Summit will seek to diversify its real estate business and pursue investment opportunities throughout Continental Europe and other markets.

Summit intends to retain its quotation on the AIM market of the London Stock Exchange and continue to be a major shareholder of Luxco.

SMTG : Summit Germany considers spinning out German real estate

 

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