Deutsche Beteiligungs AG (“DBAG”; ISIN: DE000A1TNUT7 / WKN: A1TNUT) – Sale of investment in blikk radiology group – Unexpected contribution to net asset value of Private Equity Investments and net income of 26 million euros
Disclosure of inside information pursuant to Article 17 (1) of Regulation (EU) 596/2014 on Market Abuse
Deutsche Beteiligungs AG (“DBAG”; ISIN: DE000A1TNUT7/ WKN: A1TNUT) envisages an additional, unexpected contribution to net asset value of Private Equity Investments as at 30 September 2021, and to DBAG’s net income for the financial year 2020/2021 of approximately 26 million euros, resulting from DBAG Fund VII’s sale of its investment in blikk Holding GmbH (“blikk”), as agreed today. In the course of the transaction DBAG also sold its stake in the radiology group. The proceeds DBAG will generate from the disposal markedly exceed the fair value of DBAG’s interest (11.0 per cent on a look-through basis), as reported in DBAG’s most recent half-yearly financial report (as at 31 March 2021). It is envisaged that DBAG Fund VII and DBAG will invest part of the proceeds of the sale in a re-investment.
The value contribution from the sale was not included in the forecast for net asset value of Private Equity Investments and net income, as most recently affirmed on 12 May 2021. DBAG’s most recent forecast for net asset value as at 30 September 2021 was in a range of 450 to 505 million euros, excluding the net proceeds from the capital increase; net income for the financial year 2020/2021 was projected in a range between 70 and 80 million euros.
DBAG is currently in the process of compiling its quarterly statement as at 30 June 2021, which will incorporate the unplanned value contribution from this transaction. Net asset value of Private Equity Investments as at 30 June 2021 and the results for the third quarter of the current financial year (1 April to 30 June 2021) may be subject to further positive or negative effects from the valuation of the remaining portfolio companies, as well as to other insights gained during preparation of the quarterly statement. Any comparison to the results of the same quarter of the previous financial year – which were extraordinarily high, mainly due to significant catch-up effects on capital markets, following the end of the pandemic lock-down – will be of limited informative value.
Completion of said transaction is subject to approval by antitrust authorities.
The Board of Management
Frankfurt/Main, 9 July 2021
Issued by: Roland Rapelius, Head of Investor Relations