The Grounds Real Estate Seeks Asset Management Role in Ziegert Group

The Grounds Real Estate Development AG is in negotiations concerning a potential asset management takeover for certain companies within the insolvent Ziegert Group. These discussions involve the H.I.G. Capital Group, the major shareholder of The Grounds. Any agreement will depend on the parties reaching a consensus and the results of ongoing merger control proceedings by the German Federal Cartel Office concerning the Ziegert companies' acquisition by H.I.G. Capital. The outcome of these proceedings will be crucial in determining the future role of The Grounds in managing these assets.