Source - RNS
RNS Number : 8377K
Brack Capital Real Estate Inv N.V
26 September 2016
 

26 September 2016

 

BCRE - Brack Capital Real Estate Investments N.V.

 

("BCRE" or the "Company")

 

Subsidiary enters into a notarized sale agreement

 

The Company is pleased to announce that the Company's subsidiary Brack Capital Properties N.V. ("BCRE Germany"), whose shares are traded on the Tel Aviv Stock Exchange ("TASE"), announced that it has entered into a notarized sale agreement with a third party (not related to BCRE Germany or its controlling shareholders) for the sale of the entire holdings in four asset companies for a total consideration of EUR 66.5 million (in addition to working capital adjustments). The sold companies hold the full ownership rights of four income producing assets in eastern Germany, in cities that are not in the core operations of BCRE Germany.

 

Completion of the transaction is expected to be carried out in December 2016 and is subject to producing documents evidencing the cancellation of senior pledges.

 

For ease of reference, the uncertified English translation of the announcement together with the original announcement which was published on the TASE in Hebrew, is available on the Company's website www.brack-capital.com.

 

ENQUIRIES:

 

BCRE - Brack Capital Real Estate Investments N.V.


Ariel Podrojski, Chief Executive Officer


Nansia Koutsou, Chief Financial Officer / Chief Operating Officer

+31 20 514 1004



Novella Communications


Tim Robertson


Toby Andrews

+44 203 151 7008

About BCRE

 

BCRE is an international real estate development and investment group, headquartered in the Netherlands and listed on the London Stock Exchange. Through its subsidiary and associated undertakings, the Company is interested in, develops and operates an international portfolio of real estate assets, predominantly located in the USA, Germany and Russia.

 

The Company has established local management team platforms with significant local market expertise in the US, Germany, Russia, India and the UK with exclusive access to over 550 staff. At present, the Company has offices and teams in New York, London, Frankfurt, Dusseldorf, Moscow, Kazan, New Delhi, Amsterdam and Limassol.


This information is provided by RNS
The company news service from the London Stock Exchange
 
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