Plaza Centers N.V. Plaza Centers Completes Sale of Prague 3 (6313J)
July 18 2013 - 6:30AM
UK Regulatory
TIDMPLAZ
RNS Number : 6313J
Plaza Centers N.V.
18 July 2013
18 July 2013
Plaza Centers N.V.
PLAZA CENTERS COMPLETES SALE OF PRAGUE 3
Plaza Centers N.V. ("Plaza" or the "Company"), a leading
emerging markets property developer, announces it has successfully
completed the sale of 100% of its interest in a vehicle which holds
the interest in the Prague 3 project ("Prague 3"), a logistics and
commercial centre in the third district of Prague. Earlier this
year, Plaza completed its successful application to change the
zoning use of Prague 3 to a residential scheme. The transaction
values the asset at circa EUR11 million and, as a result, further
to related bank financing and other balance sheet adjustments,
Plaza has received cash proceeds of net circa EUR7.5 million.
Ran Shtarkman, President and CEO of Plaza Centers N.V.,
said:
"Less than two months after our first exit in India, we are
pleased to announce the sale of our holding in Prague 3 in the
Czech Republic. The sale is in line with our strategy and disposal
programme of deleveraging and reallocating realised capital from
stabilised completed projects and non-core assets to the core
yielding assets across our portfolio."
"Whilst we will continue to progress our realisation programme,
we remain committed to creating additional capital value and income
growth by focussing on our asset management initiatives at our
other assets both in CEE and India."
For further details, please contact:
Plaza
Ran Shtarkman, President and CEO +36 1 462 7221
Roy Linden, CFO +36 1 462 7222
FTI Consulting
Stephanie Highett / Nina Legge +44 20 7831 3113
Notes to Editors
Plaza Centers N.V. (www.plazacenters.com) is a leading 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 dual
listed on the Main Board of the London Stock Exchange and, as of 19
October 2007, on the Warsaw Stock Exchange (LSE:"PLAZ", WSE:
"PLZ/PLAZACNTR"). 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 is a
member of the Europe Israel Group of companies which is controlled
by its founder, Mr Mordechay Zisser. It has been active in real
estate development in emerging markets for over 17 years.
This information is provided by RNS
The company news service from the London Stock Exchange
END
DISGGUBGMUPWGUR
Plaza Centers N.v (LSE:PLAZ)
Historical Stock Chart
From Jun 2024 to Jul 2024
Plaza Centers N.v (LSE:PLAZ)
Historical Stock Chart
From Jul 2023 to Jul 2024