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Equest Inv Balkans (TBI)

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Tuesday 01 December, 2009

Equest Inv Balkans

Sale of Rodacar

RNS Number : 3617D
Equest Investments Balkans Ltd
01 December 2009
 




1 December 2009 


EQUEST INVESTMENTS BALKANS LIMITED

("EIB" or the "Company") 


Sale of Rodacar


The Board of EIB today announces that, as part of its continuing disposal of non-core assets, it has sold its Rodacar property in Varna to BA Creditanstalt Bulus EOOD, a 100% owned subsidiary of UniCredit Leasing Italy, for Euro 9.934 million in cash, after deduction of VAT.

The majority of the proceeds of this sale, together with EIB's share of the proceeds of the sale of the Serdika property and the consequent repayment by Equest Balkan Properties Plc to EIB of a loan of Euro 5.4 million (as previously announced), will be used to further reduce debt obligations of the EIB Group. 



EIB continues to negotiate with the various banks serving its group companies to seek to restructure their related facilities.


-ENDS-

  

Enquiries:


Equest Investments Balkans Limited

Ian Schmiegelow
(Chairman)

Tel: + 44 20 7630 3350

Financial Dynamics

Ed Gascoigne-Pees

Nick Henderson 

Tel: + 44 20 7269 7132


Collins Stewart Europe Limited (Nomad)

Hugh Field

Tel: +44 20 7523 8350

KBC Peel Hunt Limited 
(Broker) 

Capel Irwin

Tel: + 44 20 7418 8900 





This information is provided by RNS
The company news service from the London Stock Exchange
 
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