Business
DETAILS ON DISPOSAL OF TORUN PLAZA IN POLAND
DETAILS ON DISPOSAL OF TORUN PLAZA IN POLAND.
About this update from Plaza Centers N.v.
[{"type":"text","content":"\n \nRNS Number : 7624I Plaza Centers N.V. 21 June 2017 \n\n21 June 2017\nPLAZA CENTERS N.V.\n \nDETAILS ON DISPOSAL OF TORUŃ PLAZA IN POLAND\n \nPlaza Centers N.V. (\"Plaza\" or the \"Company\") announces that its subsidiary, Plaza Centers Polish Operations B.V., has signed a non-binding Letter of Intent (\"LOI\") with an investment fund (the \"Purchaser\") regarding the sale of Torun Plaza shopping and entertainment centre in Poland. \n \nThe LOI binds the Purchaser to a strict timeline for undertaking a comprehensive due diligence process which would result in the transaction being completed by the middle of September 2017. \n \nShould the transaction proceed towards a signed share purchase agreement, following the due diligence process, Plaza will receive circa €70 million followed by additional payments up to a maximum potential amount of €4 million after an additional earn out period following the closing of the transaction. The expected net proceeds to the Company, following the repayment of the related bank loan are estimated to be circa €27-29 million.\n \nAt this point in time, there is no certainty that the transaction will be completed. Plaza will update the market on the progress of the transaction as appropriate.\n \n \n \nEnds\n \nFor further details, please contact:\n \nPlaza\nDori Keren, CEO +48 22 231 99 00 \n \nFTI Consulting \nDido Laurimore / Claire Turvey / Tom Gough +44 20 3727 1000\n \n \nNotes to Editors\n \nPlaza Centers N.V. (www.plazacenters.com) is an emerging markets developer of shopping and entertainment centres. The Company is listed on the Main Board of the London Stock Exchange, as of 19 October 2007, on the Warsa...