The DIC Group is one of the leading investors in the German market for commercial real estate

Press Release

VGH Versicherungen joins DIC Group

Frankfurt, 26.05.2010

DIC – Deutsche Immobilien Chancen AG & Co. KGaA – has now won a new strategic investor in the shape of Hannover-based VGH Versicherungen. In the course of a capital increase, the holding company of VGH Versicherungen (VGH Beteiligungs GmbH) acquired 6.4 percent of DIC shares. The parties agreed not to disclose details of the price. The shareholders of the DIC Group, which comprise associated companies, several insurers, international investors and family offices, are thus gaining yet another illustrious name.

DIC CEO Ulrich Höller: “In VGH Versicherungen, we have won a renowned investor with a long-term focus and real estate experience as a new shareholder for the DIC Group. It will enhance our group of shareholders in the best possible way and will provide active support to the DIC Group in implementing its plans for growth over the coming years.”

About VGH Versicherungen
VGH Versicherungen is currently the largest regional insurer in Lower Saxony – offering a comprehensive range of property and personal insurance policies. Its service network, which comprises around 600 independent insurance brokers and the two cooperation partners of VGH Versicherungen, the Sparkassen savings banks and the LBS building societies, is unrivalled in Lower Saxony. VGH Versicherungen was formed in 1957 with the merger of the two most prestigious insurers in Lower Saxony: Landschaftliche Brandkasse Hannover (founded 1750) and Provinzial Lebensversicherung Hannover (founded 1918). Provinzial Krankenversicherung Hannover AG and Provinzial Pensionskasse Hannover AG joined in 2001.

About DIC
DIC (Deutsche Immobilien Chancen), active throughout Germany, was founded in Frankfurt in 1998 and, with its innovative investment philosophy and its focus on the German market, is one of the most prominent and successful firms in Germany specialising in commercial real estate transactions. Its business activities include portfolio and asset management, which are handled by its SDAX-listed company, DIC Asset AG, as well as project development and opportunistic investments. It currently holds approximately 40 per cent of DIC Asset AG. The real estate assets managed by the DIC Group currently amount to around 3.2 billion euros. Its shareholders are investment companies, several insurers, institutional investors and family offices.

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