Acquisition extension

Black Sea Property PLC
30 October 2023
 

30 October 2023

 

BLACK SEA PROPERTY PLC

("Black Sea Property" or the "Company")

 

Black Sea Property PLC, the Bulgarian real estate investment company, is pleased to announce that it has agreed an extension to the deadline for payment of the balance of the consideration due for the acquisition of 98.27% of the Grand Hotel Varna AD (the "Acquisition"), previously announced on 21 July 2023. The outstanding balance of the consideration, amounting to approximately €16 million, is now due for payment on 6 November 2023.

 

The Grand Hotel Varna AD owns GHV-Dolphins EAD, a Bulgarian company holding the title to real estate comprising of three hotels and a beach marina resort situated in a prime location on the Black Sea Coast.

 

 

 

For further information, please visit www.blackseapropertyplc.com or contact the following:

 

BLACK SEA PROPERTY PLC

Simon Hudd -  Chairman

 

+44 (0) 7568 605330

PETERHOUSE CAPITAL LIMITED

Aquis Corporate Adviser

Heena Karani and Duncan Vasey

+44 (0) 207 469 0930

 

Market Abuse Regulation (MAR) Disclosure

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation EU 596/2014 as it forms part of retained EU law (as defined in the European Union (Withdrawal) Act 2018).

 

 

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