publity AG (XTRA:PBY) announced further details on the negotiations with a potential buyer regarding the acquisition of a majority shareholding in its Group subsidiary PREOS Global Office Real Estate & Technology AG (XTRA:PAG). The buyer is an internationally operating Asian conglomerate with a balance sheet total in the equivalent of tens of billions of euros and several tens of thousands of employees worldwide. In the coming years, the buyer would actively accompany the strategic growth of PREOS and its international expansion.

In the event of a successful closing of the transaction, the partners are currently discussing in depth that publity and the potential buyer will provide PREOS with financing in the triple-digit million euro range within the next few quarters, so that PREOS could acquire properties in Germany and in top European metropolises worth up to €1 billion before the end of 2021. A future equity participation by publity in further property purchases by PREOS is also a possibility. It is also intended that publity will continue to act as asset manager for PREOS' current and future real estate portfolio after the new majority shareholder has joined.

This also applies to property purchases made within the framework of PREOS' planned internationalization strategy supported by the potential buyer. Accordingly, there would be considerable potential for publity to expand its assets under management. The Executive Board of PREOS and the extended management team have already stated that they would continue to drive the company's growth in their current roles even after the possible completion of the acquisition of a majority shareholding by the Asian conglomerate.