Globalworth Real Estate Inv Ltd Completion of Acquisition in Poland (1382S)
June 21 2018 - 5:45AM
UK Regulatory
TIDMGWI
RNS Number : 1382S
Globalworth Real Estate Inv Ltd
21 June 2018
The information communicated within this announcement is deemed
to constitute inside information as stipulated under the Market
Abuse Regulations (EU) No. 596/2014. Upon the publication of this
announcement, this information is considered to be in the public
domain.
21 June 2018
Globalworth Real Estate Investments Limited
("Globalworth" or the "Company")
Completion of Acquisition in Poland
Further to its announcement of 9 May 2018, Globalworth is
pleased to announce the closing of the acquisition of Quattro
Business Park in Krakow by Globalworth Poland ("GPRE")(1) .
Quattro Business Park is a high-quality office complex of 5
buildings offering a gross leasable area of 60,200 sqm and has
annual contracted rental income of c.EUR10.7 million, with
occupancy of c.99% and a weighted average lease length of c.3
years. Tenants include Capgemini, Google and Luxoft.
The transaction has been structured as a corporate
acquisition(2) , with the purchase price based on a consideration
of EUR139 million, before working capital and other customary
adjustments, and has been funded from existing cash resources.
For further information visit www.globalworth.com or
contact:
Enquiries
Andrew Cox Tel: +44 20 3026 4027
Head of Investor Relations & Corporate Development
Jefferies (Joint Broker)
Tel: +44 20 7029 8000
Stuart Klein
Panmure Gordon (Nominated Adviser and Joint Broker) Tel: +44 20
7886 2500
Andrew Potts
Milbourne (Public Relations)
Tel: +44 7903 802545
Tim Draper
About Globalworth / Note to Editors:
Globalworth is a listed real estate company active in Central
and Eastern Europe, quoted on the AIM-segment of the London Stock
Exchange. It has become the pre-eminent office investor in the CEE
real estate market through its market leading position in Poland
and Romania. 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. Managed by approximately 110 professionals across Romania
and Poland, the combined value of its portfolio is approximately
EUR2.0 billion, of which over 90% is in income-producing assets,
predominately in the office sector, and leased to some 440 national
and multinational corporates from 28 countries and 37 different
sectors. In Romania, Globalworth is present in Bucharest, Timisoara
and Pitesti, whilst assets in Poland span Warsaw, Wroclaw, Lodz,
Krakow, Gdansk and Katowice. For more information, please refer to
http://www.globalworth.com/.
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 announcement
may include statements that are, or may be deemed to be,
"forward-looking statements". These forward-looking statements may
be identified by the use of forward-looking terminology, including
the terms "targets", "believes", "estimates", "plans", "projects",
"anticipates", "expects", "intends", "may", "will" or "should" or,
in each case, their negative or other variations or comparable
terminology, or by discussions of strategy, plans, objectives,
goals, future events or intentions. These forward looking
statements include all matters that are not historical facts and
involve predictions. Forward-looking statements may and often do
differ materially from actual results. Any forward-looking
statements reflect the Company's current view with respect to
future events and are subject to risks relating to future events
and other risks, uncertainties and assumptions relating to the
Company's business, results of operations, financial position,
liquidity, prospects, growth or strategies and the industry in
which it operates. Forward-looking statements speak only as of the
date they are made and cannot be relied upon as a guide to future
performance. Save as required by law or regulation, the Company
disclaims any obligation or undertaking to release publicly any
updates or revisions to any forward-looking statements in this
announcement that may occur due to any change in its expectations
or to reflect events or circumstances after the date of this
announcement.
1 Globalworth has a 68.4% shareholding in Globalworth Poland
Real Estate N.V. ("GPRE")
2 The transaction is the acquisition of 100% of the shares in
Blackwyn Investments spó ka z ograniczon odpowiedzialności (the
"Target") from the seller, SOF-10 Quattro NL B.V. The Target holds
the legal title to Quattro Business Park in Krakow.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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