Brack Capital Real Estate Inv N.V Subsidiary entry into an acquisition agreement (5175Q)
February 29 2016 - 12:00PM
UK Regulatory
TIDMBCRE
RNS Number : 5175Q
Brack Capital Real Estate Inv N.V
29 February 2016
BCRE - Brack Capital Real Estate Investments N.V.
("BCRE" or the "Company")
Subsidiary announces entry into an acquisition 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 an acquisition agreement with a third party (not
related to BCRE Germany or its controlling shareholders), to
acquire ownership rights over land in Aachen, Germany. BCRE
Germany's share in the total consideration, which amounts to EUR 6
million and shall be paid on the completion date, will be EUR 3
million.
Closing of the deal is subject to obtaining all the necessary
approvals for the transaction and the removal of all the pledges
from the property.
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 +31 20 514
Officer 1004
Novella Communications
Tim Robertson
+44 203 151
Ben Heath 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, Russia, India and the UK.
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 400 staff. At
present, the Company has offices and teams in New York, London,
Frankfurt, Düsseldorf, Moscow, Kazan, New Delhi, Amsterdam,
Limassol and Budapest.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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