Closing of acquisition of Green Court Building B

RNS Number : 8863J

Globalworth Real Estate Inv Ltd

22 December 2015

 

Globalworth Real Estate Investments Limited

Globalworth closes the acquisition Green Court Building B from Skanska Romania

Guernsey, 22 December 2015:  Globalworth Real Estate Investments Ltd. (AIM: GWI) ("Globalworth" or the "Company"), the real estate investment company targeting opportunities in Romania, is pleased to announce that it has closed the previously announced acquisition of Green Court Building B. 

The transaction was effected through the acquisition of 100% of the shares of SPC Gamma Property Development Company s.r.l., the company owning the asset, for a consideration paid to Skanska of circa Euro 45 million.  Euro 20 million was financed via a debt facility provided by Banca Comerciala Romana (BCR), a member of Erste Group, and the remainder from existing cash resources.

For further information visit www.globalworth.com  or contact:  

Panmure Gordon (Nominated Adviser and Joint Broker)                             Tel: [phone]

Nicola Marrin

Cantor Fitzgerald Europe (Joint Broker)                                                               Tel: [phone]

Rick Thompson

David Foreman

Milbourne (Public Relations)                                                                                     Tel: [phone]

Tim Draper

About Globalworth:

Globalworth Real Estate Investments Limited is a real estate investment company founded by real estate investor and developer Ioannis Papalekas currently focused on taking advantage of investment opportunities in Romania.  The Company's shares were admitted to trading on AIM in July 2013.

The Romanian market offers an attractive real estate investment proposition in the medium-to-long term. Globalworth believes that global investor capital flows will gradually move from markets considered as "safe havens" to more peripheral markets such as Romania in search of higher yielding investments. As a result, Romania should, in due course, become a more attractive destination for a wide investor audience. Globalworth anticipates holding an early mover advantage in and benefitting from this gradual shift in investor sentiment.

 

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