Aroundtown Subsidiary GCP Takes 20.04% Stake in LEG Immobilien
Bitget2026/10/20 17:30- Aroundtown increased its German residential property exposure through subsidiary Grand City Properties, which announced a 20.04% stake in LEG Immobilien today.
- GCP may increase its stake to 29.9% or sell some or all of the investment, depending on market conditions.
- The acquired shares represent approximately €1.8 billion in LEG Immobilien’s book equity value as of June 2026.
- The stake trades at a substantial discount, potentially allowing the group to recognize a substantial one-time, noncash profit under IFRS, subject to conditions.
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