Alpha Pyrenees Trust Limited Partial Portfolio Sale (4206I)
December 08 2015 - 11:55AM
UK Regulatory
TIDMALPH
RNS Number : 4206I
Alpha Pyrenees Trust Limited
08 December 2015
8 DECEMBER 2015
ALPHA PYRENEES TRUST LIMITED
("ALPHA PYRENEES" OR THE "TRUST")
ALPHA PYRENEES SELLS PART OF ITS FRENCH PROPERTY PORTFOLIO
Alpha Pyrenees announces today that it has sold a portfolio of
five properties in France totalling approximately 127,850 square
metres for EUR142.7 million. The properties included in the
portfolio were the Trust's largest property, the Villarceaux-Nozay
Business Park let to Alcatel-Lucent, and the Trust's properties at
Evreux, Goussainville, Roissy-en-France and Nimes.
The purchaser is an investment vehicle managed by Colony
Capital, Inc. (NYSE: CLNY), a global real estate and investment
management firm.
The sale forms part of the orderly realisation process supported
by the Trust's lender, Barclays Bank PLC ("Barclays"), and the net
proceeds from this sale will be used to reduce the Trust's bank
borrowings.
As previously stated in the Trading Update released on 13
November 2015, the Board does not expect that there will be any
value to return to ordinary shareholders after repayment of its
bank borrowings has taken place.
The Trust will provide further updates in due course.
For further information:
Dick Kingston, Chairman, Alpha Pyrenees Trust Limited 01481
231100
Paul Cable, Fund Manager, Alpha Real Capital LLP 020 7391
4700
For more information on the Trust, please visit
www.alphapyreneestrust.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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