DGAP-Adhoc: ORCO Germany S.A.: Sale of Leipziger Platz completed

 | Source: EQS Group AG EQS Group AG 

ORCO Germany S.A.  / Key word(s): Disposal

01.02.2011 10:36

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

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On 1st February 2011, ORCO Immobilien GmbH, a subsidiary of ORCO Germany
S.A., closed the sale of ORCO Leipziger Platz GmbH, holding the Wertheim
project on Leipziger Platz in Berlin valued as at December 2009 by DTZ at
EUR 84 million. The net sales price amounts to EUR 89 million, plus an
additional payment of EUR 30 million payable after finalizing of the
project.

The transaction is being executed in several instalments. The first part of
the sales price of EUR 67 million has been paid today and has been solely
used to repay the bank debt for the project. A second part is expected to
be paid in February. A third part is deferred to cover for project
development risks overtaken by ORCO. The last additional payment will
become due after finalization of the project.


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Information and Explaination of the Issuer to this News:

'We are very happy that the sale of the Leipziger Platz project has been
completed successfully and construction has started. We are convinced of
the success of the project for both HGHI and ORCO Germany' says
Jean-François Ott, CEO of ORCO Germany.

About ORCO Germany
ORCO Germany S.A. is a property company that is listed in the Prime
Standard on the Regulated Market at Frankfurt Stock Exchange and has its
registered office in Luxembourg. The ORCO Germany Group, which acts
consistently under its registered name of ORCO Germany, has been operating
in Germany since 2004 and concentrates on commercial property as well as on
asset management and project development.

ORCO Germany is a subsidiary of ORCO Property Group, which is one of the
leading Central European property companies. The company established in
1991 is based in Luxembourg and has Euronext, Prague, Budapest and Warsaw
Stock Exchange listings.


For further information please contact:    

Kirchhoff Consult AG 
Sebastian Bucher
T  +49 40 60 91 86 18
sebastian.bucher@kirchhoff.de



01.02.2011 DGAP's Distribution Services include Regulatory Announcements, 
Financial/Corporate News and Press Releases. 
Media archive at www.dgap-medientreff.de and www.dgap.de

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Language:     English
Company:      ORCO Germany S.A.
              40, Parc d'Activités Capellen
              8308 Capellen
              Großherzogtum Luxemburg
Phone:        +49 (0)30 390 93 116
Fax:          +49 (0)30 390 93 199 
E-mail:       patricia.jaenisch@orco-gsg.de
Internet:     www.orcogermany.de
ISIN:         LU0251710041
WKN:          A0JL4D
Listed:       Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
              in Düsseldorf, Stuttgart
 
End of Announcement                             DGAP News-Service
 
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