Alpha Pyrenees Trust Limited Partial Portfolio Sale (1482J)
December 15 2015 - 9:25AM
UK Regulatory
TIDMALPH
RNS Number : 1482J
Alpha Pyrenees Trust Limited
15 December 2015
15 DECEMBER 2015
ALPHA PYRENEES TRUST LIMITED
("ALPHA PYRENEES" OR THE "TRUST")
ALPHA PYRENEES SELLS FURTHER PROPERTIES FROM ITS FRENCH PROPERTY
PORTFOLIO
Further to the announcement on 8 December, Alpha Pyrenees
announces today that it has sold its properties located at Fresnes
and Mulhouse in France totalling approximately 11,790 square metres
for EUR9.1 million.
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, 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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