GPRE Acquisition of EPP Assets

RNS Number : 2856A

Globalworth Real Estate Inv Ltd

27 December 2017

 

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.

27 December 2017

Globalworth Real Estate Investments Limited ("Globalworth" or the "Company")

GPRE Acquisition of EPP Assets

Further to Globalworth's announcements on 4 October 2017 and 19 December 2017, the Company is pleased to confirm the completion of the acquisition by Griffin Premium RE.. N.V. ("GPRE") of three high quality office properties in Wroclaw, Gdansk and Katowice from Echo Polska Properties ("EPP") for a total consideration of approximately €160 million. These properties are leased to renowned tenants such as Intel, IBM, and Nokia, and in aggregate offer circa 71k sq m GLA, and approximately €11.7 million rental income.

Globalworth, via its subsidiary Globalworth Asset Managers SRL ("GAM"), has a 71.7% shareholding in GPRE.

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

Enquiries

Andrew Cox                                                                                                                     Tel: [phone]

Head of Investor Relations & Corporate Development  

Jefferies (Joint Broker)                                                                                               Tel: [phone]

Stuart Klein

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

Andrew Potts

Milbourne (Public Relations)                                                                                    Tel: [phone]

Tim Draper

About Globalworth / Note to Editors

Globalworth is an AIM-listed 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 September 2017, was valued in excess of €1 billion, of which 90% is in income-producing assets and over 80% in the office sector.

Globalworth also owns approximately 72% of Griffin Premium R.E.. N.V. ("GPRE").  GPRE is a pure-play Polish real estate platform listed on the Warsaw Stock Exchange that primarily owns high-quality office and mixed-use assets located in Warsaw and across a number of other major Polish cities, notably Wroclaw, Lodz, Krakow, Gdansk and Katowice. Its portfolio comprises nine office and three mixed-use (office and retail) properties. For more information on GPRE please refer to http://www.griffin-premium.com/.

IMPORTANT NOTICE:

No public offer of securities is being made by virtue of this announcement.

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.

 

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