DGAP-Adhoc: IVG Immobilien AG: IVG Immobilien AG: Negotiations on restructuring failed, application for opening of protective shield proceedings ('Schutzschirmverfahren')

IVG Immobilien AG / Key word(s): Restructure of Company/Insolvency

20.08.2013 16:00

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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In the negotiations conducted by IVG Immobilien AG (IVG or Company) and the
representatives of principal creditors affiliated in 'Ad hoc-Committees'
with regard to (i) a loan agreement in the amount of EUR 1,350 million
dated 25 September 2007/13 April 2012 (SynLoan I), (ii) a loan agreement in
the amount of EUR 1,047.4 million dated 12 May 2009/24 February 2012
(SynLoan II), (iii) the bilateral loan agreement in the amount of EUR 100
million dated 30 November 2007/13 April 2013 (LBBW Loan) and (iv) the
convertible bond (ISIN: DE000A0LNA87) on a comprehensive restructuring
concept and the bridge financing necessary to cover an additional liquidity
need no agreement could be reached - despite the submission of key
principles of a restructuring concept by principal creditors as announced
in the ad hoc publications published on 10 August 2013 and 12 August 2013
-, which sufficiently takes into account the interests of all the company's
stakeholders and which sufficiently ensures a successful implementation of
the restructuring concept.

Discussions with major representatives of all levels of capital have shown
that, with the exception of major shareholders, support for the concept
presented by SynLoan I/LBBW- and convertible bond holders cannot be
expected.

Against this background, the executive board - after intensive discussions
with the supervisory board - has come to the conclusion that the positive
going-concern prognosis under German insolvency laws ('positive
Fortbestehensprognose') for IVG cannot be upheld.

Therefore, the executive board will file an application for the opening of
protective shield proceedings ('Schutzschirmverfahren') with the competent
local court of Bonn/Germany today in order to achieve a sustainable
restructuring of the company by way of
self-administration('Eigenverwaltung').

The application will solely affect IVG as parent company of the IVG group.
All of IVG's subsidiaries, in particular IVG Institutional Funds GmbH, IVG
Asset Management GmbH, IVG Caverns GmbH, IVG Investment GmbH, IVG
Development GmbH, IVG Private Funds GmbH, IVG Private Funds Management
GmbH, IVG Immobilien Management REIT-AG and all property management
companies, shall remain unaffected by the proceedings. The operative
business shall proceed unaffected as well.

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Language: English
Company: IVG Immobilien AG
Zanderstr. 5-7
53177 Bonn
Germany
Phone: +49 (0)228 844-400
Fax: +49 (0)228 844-372
E-mail: ir@ivg.de
Internet: www.ivg.de
ISIN: DE0006205701, DE000A0JQMH5
WKN: 620570, A0JQMH
Listed: Regulierter Markt in Berlin, Düsseldorf, Frankfurt (Prime
Standard), München; Freiverkehr in Hamburg, Hannover,
Stuttgart

End of Announcement DGAP News-Service

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