The value of the logistics building sold will be around €2.5m. We expect the cash

The Bremen asset was not in the €168m of notarised but not closed sales. We estimate the additional liquidity for Branicks will be around

The sale of 4 logistics properties from the ViB portfolio will raise around €150m. The rationale for the deal is the diversification of ViB’s portfolio, so ViB may

The repayment of the final tranche of the bridge loan removes one maturity headache for management. We expect Branicks to have

The latest sale will provide about €7m in liquidity to Branicks and €20m to VIB. Branicks needs to keep on executing on sales and every little

As expected, the VIB AGM refused the request to appoint a Special Auditor, which will relieve Branicks. The special auditor request could

At today’s AGM, the VIB supervisory board will be doing anything it can to avoid the appointment of a special auditor. We expect the minority shareholder proposals to be

€94m in additional liquidity at Branicks is good news for investors. 

However, we are surprised at the timing of another sale from Branicks to VIB. VIB has a strategy of diversifying away from Logistics, but we expect

Any future transactions between VIB and Branicks will already be under heavy scrutiny, so the cumulative impact of the latest Special Auditor request

The request by a minority shareholder for a special auditor at VIB to investigate the €250m loan (maturing in July 2025) to Branicks is a negative for

The sale to VIB will provide under €15m in fresh liquidity for Branicks. Net proceeds will be >€50m, but much of that will be swallowed by

Extending the maturity of promissory notes and the bridge loan removes the immediate liquidity crunch for Branicks. Branicks now has the

Today’s announcement of a restructuring project for the promissory note loans (under StaRUG) reflects the difficulty in extending the term of these loans. If 75% of the