Globalworth Real Estate Inv Ltd GPRE Acquisition of EPP Assets (2856A)
27 December 2017 - 6:00PM
UK Regulatory
TIDMGWI
RNS Number : 2856A
Globalworth Real Estate Inv Ltd
27 December 2017
The information communicated within this announcement is deemed
to constitute inside information as stipulated under the Market
Abuse Regulations (EU) No. 596/2014. Upon the publication of this
announcement, this information is considered to be in the public
domain.
27 December 2017
Globalworth Real Estate Investments Limited ("Globalworth" or
the "Company")
GPRE Acquisition of EPP Assets
Further to Globalworth's announcements on 4 October 2017 and 19
December 2017, the Company is pleased to confirm the completion of
the acquisition by Griffin Premium RE.. N.V. ("GPRE") of three high
quality office properties in Wroclaw, Gdansk and Katowice from Echo
Polska Properties ("EPP") for a total consideration of
approximately EUR160 million. These properties are leased to
renowned tenants such as Intel, IBM, and Nokia, and in aggregate
offer circa 71k sq m GLA, and approximately EUR11.7 million rental
income.
Globalworth, via its subsidiary Globalworth Asset Managers SRL
("GAM"), has a 71.7% shareholding in GPRE.
For further information visit www.globalworth.com or
contact:
Enquiries
Andrew Cox Tel: +44 20 3026 4027
Head of Investor Relations & Corporate Development
Jefferies (Joint Broker) Tel: +44 20 7029 8000
Stuart Klein
Panmure Gordon (Nominated Adviser and Joint Broker) Tel: +44 20
7886 2500
Andrew Potts
Milbourne (Public Relations) Tel: +44 7903 802545
Tim Draper
About Globalworth / Note to Editors
Globalworth is an AIM-listed real estate investment company
active in Central and Eastern Europe, and has become the leading
office investor in the Romanian real estate market. Globalworth
acquires, develops and directly manages high-quality office and
logistics/light-industrial real estate assets in prime locations,
through which it benefits from a strong rental income profile from
high quality tenants from around the globe. With approximately 70
professionals managing it, Globalworth's portfolio, as at 30
September 2017, was valued in excess of EUR1 billion, of which 90%
is in income-producing assets and over 80% in the office
sector.
Globalworth also owns approximately 72% of Griffin Premium R.E..
N.V. ("GPRE"). GPRE is a pure-play Polish real estate platform
listed on the Warsaw Stock Exchange that primarily owns
high-quality office and mixed-use assets located in Warsaw and
across a number of other major Polish cities, notably Wroclaw,
Lodz, Krakow, Gdansk and Katowice. Its portfolio comprises nine
office and three mixed-use (office and retail) properties. For more
information on GPRE please refer to
http://www.griffin-premium.com/.
IMPORTANT NOTICE:
No public offer of securities is being made by virtue of this
announcement.
This announcement has been prepared for the purposes of
complying with the applicable laws and regulations of the United
Kingdom and the information disclosed may not be the same as that
which would have been disclosed if this announcement had been
prepared in accordance with the laws and regulations of any
jurisdiction outside of the United Kingdom.
This announcement may include statements that are, or may be
deemed to be, "forward-looking statements". These forward-looking
statements may be identified by the use of forward-looking
terminology, including the terms "targets", "believes",
"estimates", "plans", "projects", "anticipates", "expects",
"intends", "may", "will" or "should" or, in each case, their
negative or other variations or comparable terminology, or by
discussions of strategy, plans, objectives, goals, future events or
intentions. These forward looking statements include all matters
that are not historical facts and involve predictions.
Forward-looking statements may and often do differ materially from
actual results. Any forward-looking statements reflect the
Company's current view with respect to future events and are
subject to risks relating to future events and other risks,
uncertainties and assumptions relating to the Company's business,
results of operations, financial position, liquidity, prospects,
growth or strategies and the industry in which it operates.
Forward-looking statements speak only as of the date they are made
and cannot be relied upon as a guide to future performance. Save as
required by law or regulation, the Company disclaims any obligation
or undertaking to release publicly any updates or revisions to any
forward-looking statements in this announcement that may occur due
to any change in its expectations or to reflect events or
circumstances after the date of this announcement.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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