DGAP-News: Wereldhave
Wereldhave exits Spain
04.09.2014 / 07:51
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Wereldhave sells entire Spanish portfolio and exits Spain
Schiphol, 4 September 2014
Wereldhave announces that it has decided to exit Spain.
Agreement has been reached with Axia real estate on the disposal of the
portfolio for [Eur] 99.5m gross, which reflects a result on the disposal of 4%
after municipality taxes and fees (book value at 30 June 2014 amounted to [Eur]
91.8m and at 31 December 2013 to [Eur] 92,3m).
The agreement includes an additional earn out/profit share mechanism based on
the performance of the portfolio, that could provide a further upside between
[Eur]0 - [Eur] 2.5m (another 0 - 3% on the book value per 30 June 2014), to
materialise
in 2014/2015.
The transaction will be completed in September 2014 and the management office
in Madrid will subsequently be closed in 2014. The closing costs will amount to
approx. [Eur] 1.0m.
This transaction enables Wereldhave to further focus on midsized shopping
centres in Finland, Belgium and the Netherlands and sustainable offices in
Paris.
Wereldhave was advised in this transaction by CBRE Spain.
Information for the press:
Richard W. Beentjes
E richard.beentjes@wereldhave.com
T + 31 20 702 78 33
Information for analysts:
Jaap-Jan Fit
E jaapjan.fit@wereldhave.com
T + 31 20 702 78 43
Click on, or paste the following link into your web browser, to view the
associated documents
https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmen
tId=485891
News Source: NASDAQ OMX
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04.09.2014 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Wereldhave
Netherlands
End of News DGAP News-Service
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285504 04.09.2014
DGAP-News: Wereldhave exits Spain
| Source: EQS Group AG