Deutsche Konsum REIT-AG finalizes restructuring, sets capital increase terms

Deutsche Konsum REIT-AG today announced the finalization of its restructuring concept, which includes a mixed cash and contribution-in-kind capital increase with subscription rights at €2.00 per newly issued share. The subscription ratio will be 1 to 1.5, allowing shareholders to subscribe for 1.5 new shares for each existing share. This move aims to increase the company's issued share capital from the current €50,351,091.00 to up to €125,877,726.00.

The restructuring involves a debt-to-equity swap of financial liabilities amounting to approximately €120 million and the disposal of real estate assets valued at around €300 million. Receivables from registered and convertible bonds, totalling approximately €120 million, will be contributed as a contribution in kind, with Versorgungsanstalt des Bundes und der Länder AöR ("VBL") providing approximately €108 million of this. The restructuring period is set to conclude in September 2027.

An extraordinary general meeting to approve the restructuring capital increase is scheduled for October 2025. The implementation is contingent on BaFin granting an exemption from the mandatory takeover offer obligation should VBL or its affiliates gain control of the company.