Acquisition of Dacia distribution facility

RNS Number : 4876X

Globalworth Real Estate Inv Ltd

22 February 2017

 

22 February 2017

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

Globalworth Real Estate Investments Limited

Acquisition of Automobile Dacia S.A. ("Dacia") distribution facility

Globalworth Real Estate Investments Limited (AIM: GWI) ("Globalworth" or "the Company"), the real estate investment company targeting opportunities in the broader SEE and CEE regions with a focus on Romania, announces that it has signed the acquisition of a modern warehouse facility 100% leased to Dacia, Romania's largest corporate, on a long term basis.  

The facility benefits from a great location c. 100km west of Bucharest near the Bucharest - Pitesti highway, one of Romania's principal warehouse and industrial corridors and is 28km away from Dacia's main plant in Mioveni, Arges County.  Spanning across c. 68,000 square metres, it is one of the largest distribution centres of Renault Group for spare parts and accessories outside of France.

The transaction value is circa Euro 42.5m.  Closing of the transaction is subject to customary conditions precedent, including clearance from the Romanian Competition Council and approval from the property's existing lender. 

For further information visit www.globalworth.com  or contact:  

Globalworth Real Estate Investments Limited                                  Tel: [phone]
Dimitris Raptis

Panmure Gordon (Nominated Adviser and Joint Broker)              Tel: [phone]

Andrew Potts

Cantor Fitzgerald Europe (Joint Broker)                                                Tel: [phone]

Rick Thompson

David Foreman

Milbourne (Public Relations)                                                                    Tel: [phone]

Tim Draper

About Globalworth:

Globalworth is a real estate investment company active in the SEE and CEE regions with a prime focus on Romania. The Company is internally managed by c. 70 professionals and its portfolio currently comprises 15 high quality real estate investments currently valued at c. Euro 962.4 million, all located in Romania.

 

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