Brief: Gabriel Holding Signs LoI For Sale of Gabriel Ejendomme A/S
12/10/2018 14:59
Oct 12 (Reuters) - Gabriel Holding A/S GABR.CO :
* GABRIEL HOLDING A/S SIGNS LETTER OF INTENT CONCERNING SALE OF GABRIEL EJENDOMME A/S
SUBSIDIARY
* TOTAL SALE PRICE IS DKK 150 MILLION
* TRANSACTION CONCERNING TRANSFER OF PROPERTY COMPANY TO PENSION GROUP PENSAM IS EXPECTED TO
TAKE
PLACE AROUND 1 APRIL 2020
* TRANSACTION IS SUBJECT TO SATISFACTORY DUE DILIGENCE AND AMENDMENT OF LOCAL DEVELOPMENT
PLAN TO
PERMIT BUILDING OF RESIDENCES ON PROPERTY
* ENTERED INTO NON-TERMINABLE 15-YEAR LEASE WITH GABRIEL EJENDOMME A/S FOR ENTIRE COMMERCIAL
AREA
OF CURRENTLY ABOUT 6,900 M(2)
* SALE OF PROPERTY COMPANY IS EXPECTED TO INCREASE GROUP'S LIQUIDITY BY APPROXIMATELY DKK
100
MILLION IN DUE COURSE.
* IF SALE IS COMPLETED, WILL RESULT IN NET INCOME FOR GROUP OF ABOUT DKK 53 MILLION IN
FINANCIAL
YEAR IN WHICH TRANSACTION IS FINALISED
Source text for Eikon: ID:nGNE8qn1wS
Further company coverage: GABR.CO
(Gdynia Newsroom)
((gdynia.newsroom@thomsonreuters.com; +48 58 772 0920;))