ADO in three-way merger to create German residential giant

Berlin, Germany

Germany’s ADO Properties has agreed a €708m (£590m) merger with Adler Real Estate, to create an new listed residential company with an €8.6bn portfolio.

The terms of the deal have changed since it was first announced in September. Berlin’s listed Adler is to pay the same amount to acquire 33% of ADO Properties from its senior shareholder, the Israeli-listed ADO Group.

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