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DGAP-Adhoc: Covivio X-Tend AG announces launch of a voluntary takeover offer; Godewind Immobilien AG intends delisting

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DGAP-Ad-hoc: Godewind Immobilien AG / Key word(s): Offer/Real Estate
Covivio X-Tend AG announces launch of a voluntary takeover offer; Godewind
Immobilien AG intends delisting

13-Feb-2020 / 18:36 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation
(EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

*Publication of inside information pursuant to Article 17 of Regulation (EU)
No 596/2014 (MAR)*

*Covivio X-Tend AG announces launch of a voluntary takeover offer; Godewind
Immobilien AG intends delisting*

*Frankfurt am Main, 13 February 2020 *- Covivio X-Tend AG ("Bidder"), a
wholly-owned subsidiary of stock listed Covivio S.A. with its registered
office in Metz, today announced to the management board of Godewind
Immobilien AG ("Company", ISIN: DE000A2G8XX3, WKN: A2G8XX) its decision to
launch a voluntary takeover offer for the acquisition of all registered
no-par value shares of the Company. The takeover offer shall provide for the
payment of a consideration in cash in the amount of EUR 6.40 per no-par
value share.

In connection with the takeover offer, the Bidder, Covivio S.A. and the
Company have today concluded a business combination agreement. In the
business combination agreement, the Company has undertaken, under certain
conditions, to apply for the delisting of the Company's shares from trading
on the regulated market of the Frankfurt Stock Exchange. Accordingly, the
Bidder has undertaken to provide for an offer document which meets the
requirements for a compensation offer to the shareholders required for a
delisting (so-called delisting offer). In addition, the business combination
agreement sets out the parties' common understanding of, among other things,
the strategy, the offer procedure, the delisting, the future composition of
the Company's corporate bodies and the integration process.

In accordance with their legal obligations, the management board and
supervisory board of the Company will comment on the takeover offer after
receipt of the offer document to be published by the Bidder. On the basis of
the business combination agreement, the management board and the supervisory
board of the Company will support the public takeover offer and - subject to
detailed review of the offer document - recommend acceptance to its
shareholders, and will tender the Company's treasury shares into the offer.
Basis for the support is the preliminary assessment that, at the end of the
financial year 2019, the EPRA Net Asset Value (EPRA NAV) of the Company was
in a range of EUR 6.05 to EUR 6.15 per share and the EPRA Triple Net Asset
Value (EPRA NNNAV) of the Company was in a range of EUR 5.33 to EUR 5.43 per
share.

According to the Bidder and in accordance with the business combination
agreement, various shareholders of the Company, including the chairman of
the management board, Mr. Stavros Efremidis, as well as the supervisory
board member Mr. Karl Ehlerding, have today concluded binding share purchase
agreements for a total of approximately 35% of the Company's fully diluted
share capital with the Bidder as purchaser at a purchase price of EUR 6.40
per no-par value share of the Company. According to the Bidder, the share
purchase agreements are, _inter alia_, subject to approval by the antitrust
authorities.

*Contact*
Gunnar Janssen
Investor Relations
Godewind Immobilien-AG
Taunusanlage 8
60329 Frankfurt am Main
Germany
Tel: +49 69 271 3973 213
E-Mail: g.janssen@godewind-ag.com
www.godewind-ag.com

ISIN: DE000A2G8XX3
WKN: A2G8XX
Indizes: Financial Services, Real Estate
Wertpapierbörsen: Frankfurt Regulierter Markt (Prime Standard), XETRA

13-Feb-2020 CET/CEST The DGAP Distribution Services include Regulatory
Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
Language: English
Company: Godewind Immobilien AG
Taunusanlage 8
60329 Frankfurt am Main
Germany
Phone: +49 (0) 69 2713973213
E-mail: g.janssen@godewind-ag.com
ISIN: DE000A2G8XX3
WKN: A2G8XX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich,
Stuttgart, Tradegate Exchange
EQS News ID: 975443

End of Announcement DGAP News Service

975443 13-Feb-2020 CET/CEST



(END) Dow Jones Newswires

February 13, 2020 12:36 ET ( 17:36 GMT)
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