Disposal

RNS Number : 6668Y

Plaza Centers N.V.

10 September 2015

 

10 September 2015

Plaza Centers N.V.

PLAZA CENTERS COMPLETES THE SALE OF PALAZZO DUCALE IN ROMANIA

Plaza Centers N.V. ("Plaza" or the "Company"), today announces that it has reached an agreement to sell Palazzo Ducale, an office building of 823 sqm GLA in the centre of Bucharest, Romania between Piata Victoriei and Piata Romana, for €1.085 million. This is consistent with the asset's last reported book value.

In line with the Company's stated restructuring plan, 75% of the net cash proceeds from the transaction will be distributed to the Company's bondholders by the end of September 2015 as an early principal repayment.

Ends

For further details, please contact:

Plaza

Akiva Azulay, CEO                                                                                [phone]

Roy Linden, CFO                                                                                   [phone]

FTI Consulting

Dido Laurimore / Claire Turvey / Tom Gough                                             [phone]

Notes to Editors

Plaza Centers N.V. (www.plazacenters.com) is a leading property developer and investor with a significant presence across Central and Eastern Europe and operations in India. It focuses on constructing new shopping and entertainment centres and, where there is significant potential, redeveloping existing centres in both capital cities and important regional centres. The Company is listed on the Main Board of the London Stock Exchange, the Warsaw Stock Exchange and, as of 27 November 2014, the Tel Aviv Stock Exchange (LSE:"PLAZ", WSE: "PLZ/PLAZACNTR"; TASE: "PLAZ"). Plaza Centers N.V. is an indirect subsidiary of Elbit Imaging Ltd. ("EIL"), an Israeli public company whose shares are traded on both the Tel Aviv Stock Exchange in Israel and the NASDAQ Global Market in the United States. It has been active in real estate development in emerging markets for over 19 years.

 

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