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Wiesloch, September 3, 2019 – With the closing of the transaction, the MLP Group has completed its acquisition of the DEUTSCHLAND.Immobilien Group on schedule. MLP announced in March 2019 that it would be acquiring a majority stake of 75.1 percent of the shares in the marketplace for investment properties. Having already received the consent of both the Supervisory Board and the competition authorities, the shareholders also paved the way for completion of the transaction with their approval at the latest Annual General Meeting. With 99.95 percent of votes cast, the amendment to the business purpose and a corresponding amendment to the company's articles of association were also approved. Among other things, the business purpose was extended to include the development and management of real estate. As already announced, the ultimate implementation of the transaction was performed with economic effect on January 1, 2019.
"The real estate brokerage area offers enormous potential for MLP. Since it was established in 2014, we have increased the brokered volume by an average of around 46 percent per year. With our stake in DEUTSCHLAND.Immobilien, we are strategically developing this business and will be able to lever key potential, above all for the important future topic of age-appropriate living," comments Manfred Bauer, Member of the Executive Board of MLP SE.
DEUTSCHLAND.Immobilien was founded in 2008. At the heart of operations is the online platform, through which the company collaborates with around 5,800 sales partners. Dedicated project developments take place primarily in the growth segment of age-appropriate living and nursing care. MLP is anticipating a contribution to earnings before interest and taxes (EBIT) from the DEUTSCHLAND.Immobilien Group in the low single-digit million range as of the first full financial year following the acquisition, i.e. from 2020 on. The transaction does not have any effects on the forecast of MLP SE for 2019, in which a slight increase in EBIT is anticipated.