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Vonovia Gets 20.5% Shares In Adler Group From Aggregate Holdings As Collateral

Vonovia SE (DAIMF), a German real estate company, said on Tuesday that it has received a 20.5 percent shares in Adler Group as collateral from Aggregate Holdings Invest S.A., for a loan Aggregate obtained from Vonovia, to replace a bank loan.

This is to prevent and protect a failure by Aggregate to provide contractually agreed cash collateral.

"The enforcement of the pledge is a consequence of the credit exposure and was necessary to protect Vonovia's financial interests. Further decisions are not prejudiced by these measures - Vonovia retains all options, including the full or partial sale of the shares," the German firm said in a statement.

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