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KMC Properties ASA — M&A Activity 2010
Jun 15, 2010
3645_rns_2010-06-15_132dd1f5-bd5b-44f7-8ed3-d6dfca808261.pdf
M&A Activity
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PRESS RELEASE
STORM real estate asa
Storm Real Estate ASA wishes to inform that it is no longer its intention to enter into a sale and purchase agreement with the Seller of the commercial property of 20,000 sqm in central Moscow, pursuant to the terms and conditions in the Preliminary Agreement signed 26 April 2010.
The decision is a result of the due diligence process.
Storm Real Estate ASA would consider its continued interest in acquiring the Property, however on revised terms. We are considering other potential acquisitions.
For more information, please contact:
Morten Astrup, CIO
Storm Capital Management Ltd.
[email protected]
+447778888000
About Storm Real Estate ASA:
Storm Real Estate ASA's business strategy is to acquire and manage modern yielding commercial properties in Moscow and St Petersburg. The Company only invests in yielding properties and is therefore not exposed to development risks.
The property portfolio compromises two office buildings, Gasfield in Moscow and Grifon House in St. Petersburg, with a total lettable area of approximately 20,000 square metres. Both buildings are today fully let to solid companies within the oil, gas and pharmaceutical industries.
Managed by STORM capital management
100 New Bond Street, London, W1S 1SP
Tel: +44(0)20 7409 3378
Fax: +44(0)20 7491 3464
www.stormcapital.co.uk