ADO Properties, a real estate investment company, completed the acquisition of ADLER Real Estate, an integrated real estate group based in Berlin, in a $2bn deal. ADLER shareholders received 0.4164 ADO shares per ADLER share. “This is an exciting and transformational combination that will ultimately create one of the largest listed residential real estate groups in Europe. The combination will have a high-quality portfolio diversified across core German cities, with access to a market-leading development platform and pipeline. We believe this combination will have a compelling growth profile, which will benefit all stakeholders and deliver value for shareholders in the short, medium and long-term,” Thierry Beaudemoulin, ADO CEO.