The bad news doesn’t stop for the reeling real estate group Adler. After the financial regulator Bafin found errors in the balance sheets of the German subsidiary, the sale of the Dutch housing company Capital Properties (BCP), worth hundreds of millions, has now failed. The Düsseldorf real estate group LEG will not take over another 63 percent of BCP from Adler, as LEG announced. The company already holds 35 percent of BCP, and by the end of September there would have been an option to buy the remaining shares for 765 million euros – and thus around 12,000 apartments, mainly in NRW and Leipzig. That’s off the table now. Adler shares collapsed again on Thursday and fell to a record low of EUR 2.90 by the afternoon.
Real estate – Adler fails with sale – economy
