19 April 2023, Nicosia, Cyprus I Ad hoc announcement pursuant to Art. 53 LR
Successful Sale of Russian Property Portfolio
Following the extraordinary general meeting (held on 1 November 2022) at which the shareholders of EPH European Property Holdings PLC (“EPH”, the “Company”) authorised the Board of Directors to sell EPH Group’s entire Russian property portfolio within the framework of a management buyout, EPH has successfully completed the underlying transactions. The sale included six rental properties and apartment complexes in Moscow, together with their holding companies domiciled in Cyprus and Germany as well as EUR 426.1 million in debt which has been taken over by local management. The sale of the Russian property portfolio is a logical further step in EPH Group’s strategic realignment.
As already announced in the Ad Hoc Announcement of 7 October 2022, the purchase price of the sale of the Russian portfolio was based on the market values of the Russian properties as per 30 June 2022 whereas the final consideration is the property values adjusted for assets and liabilities of the holding companies. In addition, EPH transferred its debt in the total amount of EUR 426.1 million to the buyer structure.
EPH is optimistic about the future development of the Company and continues to see good potential in the target European markets. EPH will carefully examine market opportunities in order to continue to position its real estate portfolio for long-term stability in income and value growth.
Resignation of Hans Messmer as Board Member
Hans Messmer has resigned as board member with immediate effect. The Board of EPH European Property Holdings PLC would like to thank Hans for his services during his tenure.
EPH EUROPEAN PROPERTY HOLDINGS PLC is an investment company listed on SIX Swiss Exchange and holds an extensive property portfolio with a total asset value of around EUR 900million, including real estate assets in Berlin, Hamburg, Stuttgart, Dresden, and Vienna. EPH EUROPEAN PROPERTY HOLDINGS PLC is managed by Valartis International Ltd. a wholly owned subsidiary of Valartis Group AG.
Additional information on EPH EUROPEAN PROPERTY HOLDINGS PLC is available by contacting Anna Bernhart on
Tel: +41 44 503 5414.
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