Regional Court of Hamburg issues injunction against the “Handelsblatt” newspaper for the false reporting of the GBW acquisition
The Regional Court of Hamburg has issued a preliminary injunction to the “Handelslatt” newspaper against its reporting of the GBW acquisition (Az 324 O 106/18). The “Handelsblatt” had, clearly on the basis of misinformation from the political sphere, raised the suspicion that the acquisition of the GBW was funded with money received from Russia and/or ‘black money’.
The Regional Court of Hamburg has issued a preliminary injunction to the “Handelslatt” newspaper against its reporting of the GBW acquisition (Az 324 O 106/18). The “Handelsblatt” had, clearly on the basis of misinformation from the political sphere, raised the suspicion that the acquisition of the GBW was funded with money received from Russia and/or ‘black money’. This reporting lacks any foundation. Any further reporting of this allegation by the “Handelsblatt” will be considered in breach of the injunction order and, in every instance, may result in a fine of up to 250,000 euros.
PATRIZIA Immobilien AG again and emphatically states that the acquisition of the GBW included no ‘Russian money’, ‘money from Russia’ or similar, as alleged by the Handelsblatt. The GBW investors include insurance companies, savings banks, pension funds and, more specifically, pension funds from the DACH region (Germany, Austria, Switzerland). This has also been confirmed by the legal firm Allen & Overy, which participated in the transaction. Of course, according to the contractual arrangements, the investors are known to the relevant bodies of the then seller.
PATRIZIA Immobilien AG is not prepared to be used as an object in what is an obviously and above all politically motivated attack and will continue to use all available legal channels in countering future reprints and false reporting of the allegation.
As a company, PATRIZIA Immobilien AG attaches great importance to compliance with the Law. As a listed company and with the investment companies we manage, we are regulated by the BaFin and other supervisory authorities. PATRIZIA operates to the highest standards of internal control systems and is fully compliant with all legal requirements, including legally prescribed money laundering checks on contracts.
PATRIZIA Immobilien AG:
PATRIZIA Immobilien AG has been active as an investment manager in the real estate market across Europe for more than 30 years. PATRIZIA’s activities include the acquisition, management, repositioning and sale of residential and commercial real estate through its own licensed investment platforms. As a global provider of real estate investments in Europe, PATRIZIA operates as a respected business partner of large institutional investors and retail investors in all major European countries. On completing the takeovers of recently acquired real estate investment management companies PATRIZIA will manage almost EUR 40 billion of real estate assets, primarily as a portfolio manager for insurance companies, pension fund institutions, sovereign funds, savings and cooperative banks and as co-investor. For further information, please visit: www.patrizia.ag.