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G City M&A Activity 2022
6798_iss_2022-11-15_c1c7f009-70ef-4200-b783-583a3c677f91.pdf
M&A Activity
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G CITY EUROPE LIMITED
G City Europe Limited ("The Company"), signed a binding agreement for the disposal of the Copernicus Shopping Center and the adjacent land plot in Torun, Northern Poland, for EUR 127 million. The Buyer is a wholly owned subsidiary of Nepi Rockcastle plc (NA: NRP), a public company registered in Amsterdam and in South Africa, which holds, develop and operates commercial centers in Central and Eastern Europe. The proceeds of the sale are 3.3% lower than the carrying value of the property in the Company's books as at June 30, 2022.
About G City Europe
G City Europe Limited member of G City Group is an owner, operator and redeveloper of shopping centres and residential for rent properties in Central Europe. G City Europe specializes in dominant food, fashion and entertainment, anchored shopping centres in prime urban locations, with a focus on Warsaw and Prague. Organic growth within the shopping centre portfolio is driven by pro-active, hands-on asset management, upholding the Company's "retail is detail" approach. G City Europe owns 23 income producing properties (including one residential for rent property) with a total gross leasable area of over 700,000 sqm and with a total market value of approximately €2.3 billion.
G City Europe Limited Regulated by the Jersey Financial Services Commission under number 70371
www.aere.com [email protected] Registered Address:
11 – 15 Seaton Place St Helier Jersey JE4 0QH Channel Islands
Business Address:
Spyrou Kyprianou 79, MGO Protopapas Building 3rd Floor 3076, Limassol, Cyprus