Globalworth Real Estate Inv Ltd Update on Investment in Poland (6053U)
October 25 2017 - 7:30AM
UK Regulatory
TIDMGWI
RNS Number : 6053U
Globalworth Real Estate Inv Ltd
25 October 2017
Globalworth Real Estate Investments Limited
("Globalworth" or the "Company")
Update on Investment in Poland
On 4 October 2017, the Board of Globalworth announced
("Announcement") that its subsidiary Globalworth Asset Managers SRL
("GAM") had entered into a conditional investment agreement to
acquire a minimum of 50.01% and up to 67.90% of the issued share
capital of Griffin Premium RE.. N.V. ("GPRE"), a Dutch entity
listed on the Warsaw Stock Exchange, to be effected by way of the
Tender Offer (the "Investment").
The Board of Globalworth is pleased to announce that on 24
October 2017 GAM received a position letter from the Polish
regulator, the Office for Competition and Consumer Protection,
stating that GAM's investment in GPRE is not subject to antitrust
approval in Poland. Antitrust clearance represented a condition to
the Investment and GAM therefore deems the above condition to be
satisfied now. The Company currently expects all remaining
conditions to be satisfied, the Tender Offer to be closed and
completion of the Investment, on or around 6 December 2017.
Terms which are not otherwise defined in this announcement have
the meanings given to them in the Announcement.
A full copy of the Announcement can be found here:
www.globalworth.com/investor-relations/key-corporate-documents.aspx
The Board of Globalworth will continue to keep shareholders
updated as appropriate.
Enquiries:
Andrew Cox Tel: +44 20 3026 4027
Head of Investor Relations & Corporate Development
Panmure Gordon (Nominated Adviser and Joint Broker) Tel: +44 20
7886 2500
Andrew Potts
Jefferies (Joint Broker) Tel: +44 20 7029 8000
Stuart Klein
Milbourne (Public Relations) Tel: +44 7903 802 545
Tim Draper
About Globalworth
Globalworth is a real estate investment company active in
Central and Eastern Europe, and has become the leading office
investor in the Romanian real estate market. Globalworth acquires,
develops and directly manages high-quality office and
logistics/light-industrial real estate assets in prime locations,
through which it benefits from a strong rental income profile from
high quality tenants from around the globe. With approximately 70
professionals managing it, Globalworth's portfolio, as at 30 June
2017, was valued in excess of EUR1bn, of which 90% is in
income-producing assets and over 80% in the office sector.
Globalworth has a strong and supportive investor base, having been
listed on the AIM Market of London Stock Exchange since 2013 and in
2017 issued its debut Eurobond on the Irish and Bucharest stock
exchanges.
IMPORTANT NOTICE:
This announcement has been prepared for the purposes of
complying with the applicable laws and regulations of the United
Kingdom and the information disclosed may not be the same as that
which would have been disclosed if this announcement had been
prepared in accordance with the laws and regulations of any
jurisdiction outside of the United Kingdom.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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