trending Market Intelligence /marketintelligence/en/news-insights/trending/rfnfnSs-v2comBuE5JAdjw2 content esgSubNav
In This List

DO Deutsche Office mulling limited partnership transformation


S&P Capital IQ Pro | Powering Your Edge


S&P Capital IQ Pro | Unrivaled Sector Coverage

S&P Capital IQ Pro | Powered by Expert Insights


Enterprises are missing out on 24B by not optimizing cloud spending not going multicloud

DO Deutsche Office mulling limited partnership transformation

DO DeutscheOffice AG is mulling conversion into a limited partnership.

The company said in its first-quarter interim statement thatit is considering a GmbH & Co. KG conversion, which will mean it will no longerbe listed for trading.

The company's supervisory board has already approved aproposal to prepare for the transformation, and a resolution is expected to beadopted at its annual general meeting, subject to final approval from theexecutive and supervisory board.

The company will not pay a dividend as it closed with a €79million consolidated loss in 2015.

The company fully repaid a €332 million loan in February.The refinancing was made through a shareholder loan from . Further, thecompany signed another €315 million loan facility with its controllingshareholder, alstria Office.

DO Deutsche Office posted a consolidated net profit of €10.8million in the first quarter, compared with €11.7 million in the year-agoperiod. FFO increased from €12.0 million in the year-ago period to €15.6million for the first quarter. The increased FFO was attributed torestructuring measures after its takeoverby alstria, according to the news release.

The group confirmed an FFO of at least €60 million for thefull year, based on its current portfolio, and also confirmed an annual rentalrevenue forecast of €108 million.