Craven House Capital PLC Acquisition of land in Brazil (9224Q)
05 December 2016 - 6:54PM
UK Regulatory
TIDMCRV
RNS Number : 9224Q
Craven House Capital PLC
05 December 2016
5 December 2016
Craven House Capital plc
("Craven House" or the "Company")
Acquisition of land in Brazil
The Company today announces that it has acquired the entire
share capital of Universal Properties Brasil Administracao de
Imoveis Ltda ("UPBAI") for a total cash consideration of USD
$3,100,000.
UPBAI is a holding company and as such has no trading activity.
Its sole asset is a 500 hectare parcel of land in Canavieiras in
the Bahia region of Brazil. The property comprises of four
neighboring land parcels and benefits from 7.5km of direct
ocean-front real estate.
Mark Pajak, Director, commented:
"We are delighted to announce the acquisition of this
outstanding asset which represents our second substantial land
holding in Bahia, just a few hundred kilometers from the 1,967
hectare property in Caravelas in which the Company is a minority
shareholder. The land owned by UPBAI is ideal for both agricultural
use or property development and we look forward to announcing
further plans for these properties in due course. We continue to
evaluate further land acquisitions in the region."
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
Ends
For further information please contact:
Craven House Capital Plc Tel: 020 7002 1027
Mark Pajak
www.Cravenhousecapital.com
SI Capital Tel: 01483 413500
Broker
Nick Emerson
www.sicapital.co.uk
SPARK Advisory Partners Tel: 0203 368 3550
Limited
Nominated Adviser
Matt Davis/Mark Brady
www.Sparkadvisorypartners.com
About Craven House Capital:
Craven House Capital is a frontier and emerging market focused
merchant bank seeking value oriented long term investments. Craven
House invests in all segments of the capital structure in
partnership with local entrepreneurs and the local business
community. Craven House provides long term patient capital and is
often involved in restructuring, expansion and turn around
investments in crisis and transitioning economies.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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