Plaza Centers N.V. DISPOSAL OF LAND PLOT IN BUDAPEST, HUNGARY (4645S)
03 October 2017 - 2:15AM
UK Regulatory
TIDMPLAZ
RNS Number : 4645S
Plaza Centers N.V.
02 October 2017
02 October 2017
PLAZA CENTERS N.V.
DISPOSAL OF LAND PLOT IN BUDAPEST, HUNGARY
Plaza Centers N.V. ("Plaza" or the "Company") announces that it
has concluded an agreement with an international investor, NEPI
Rockcastle, on the termination of land use rights over a circa
21,788 sqm land plot adjoining Arena Plaza in Budapest, Hungary,
registered to a subsidiary of the Company, Kerepesi 5 Irodaépület
Kft ("K5"). The transaction also includes the termination of the
preliminary easement agreement, which provided K5 with certain
easement rights over the plot. NEPI Rockcastle is the largest
listed retail centre owner in CEE and recently acquired the Arena
Plaza shopping centre from a third party.
As a result of the agreement, K5 will receive a net sum of
EUR2,500,000. At least 75% of the net proceeds received from the
disposal will be distributed to the Company's bondholders in the
next quarterly payment.
Ends
For further details, please contact:
Plaza
Dori Keren, CEO +48 22 231 99 00
FTI Consulting
Dido Laurimore / Claire Turvey / Tom Gough +44 20 3727 1000
Notes to Editors
Plaza Centers N.V. (www.plazacenters.com) is an emerging markets
developer of shopping and entertainment centres. It focuses on
constructing new centres and, where there is significant
redevelopment potential, redeveloping existing centres in both
capital cities and important regional centres. The Company is
listed on the Main Board of the London Stock Exchange, as of 19
October 2007, on the Warsaw Stock Exchange (LSE: "PLAZ", WSE:
"PLZ/PLAZACNTR") and, on the Tel Aviv Stock Exchange. Plaza Centers
N.V. is an indirect subsidiary of Elbit Imaging Ltd. ("EI"), an
Israeli public company whose shares are traded on both the Tel Aviv
Stock Exchange in Israel and on the NASDAQ Global Market in the
United States. Plaza Centers has been active in real estate
development in emerging markets for over 21 years.
This information is provided by RNS
The company news service from the London Stock Exchange
END
DISMTBATMBMMBAR
(END) Dow Jones Newswires
October 02, 2017 11:15 ET (15:15 GMT)
Plaza Centers N.v (LSE:PLAZ)
Historical Stock Chart
From Apr 2024 to May 2024
Plaza Centers N.v (LSE:PLAZ)
Historical Stock Chart
From May 2023 to May 2024