Acquisition of land in Brazil

RNS Number : 9224Q

Craven House Capital PLC

05 December 2016

 

5 December 2016

Craven House Capital plc

("Craven House" or the "Company")

Acquisition of land in Brazil

The Company today announces that it has acquired the entire share capital of Universal Properties Brasil Administracao de Imoveis Ltda ("UPBAI") for a total cash consideration of USD $3,100,000.

UPBAI is a holding company and as such has no trading activity. Its sole asset is a 500 hectare parcel of land in Canavieiras in the Bahia region of Brazil. The property comprises of four neighboring land parcels and benefits from 7.5km of direct ocean-front real estate.

Mark Pajak, Director, commented:

"We are delighted to announce the acquisition of this outstanding asset which represents our second substantial land holding in Bahia, just a few hundred kilometers from the 1,967 hectare property in Caravelas in which the Company is a minority shareholder. The land owned by UPBAI is ideal for both agricultural use or property development and we look forward to announcing further plans for these properties in due course. We continue to evaluate further land acquisitions in the region."

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

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For further information please contact:

Craven House Capital Plc Mark Pajak www.Cravenhousecapital.com	Tel:   [phone]
SI Capital Broker Nick Emerson www.sicapital.co.uk	Tel: [phone]
SPARK Advisory Partners Limited Nominated Adviser Matt Davis/Mark Brady www.Sparkadvisorypartners.com	Tel:   [phone]

About Craven House Capital:

Craven House Capital is a frontier and emerging market focused merchant bank seeking value oriented long term investments. Craven House invests in all segments of the capital structure in partnership with local entrepreneurs and the local business community. Craven House provides long term patient capital and is often involved in restructuring, expansion and turn around investments in crisis and transitioning economies.

 

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