S Immo AG — M&A Activity 2017

Jun 13, 2017

publication: 13.06.2017 16:45 source: http://adhoc.pressetext.com/news/1497365100942 keywords: S IMMO AG / strategic management decision / real estate disposal

Public disclosure of inside information according to article 17 MAR

S IMMO AG: Successful sale of Serdika Center & Offices

Wien (pta029/13.06.2017/16:45) - S IMMO AG today has entered into contracts regarding the sale of its participation (65%) in the shopping center Serdika Center and the sale of its office building Serdika Offices to New Europe Property Investments plc (NEPI). The Serdika Center combines more than 200 shops in a total usable area of roughly 47,000 m2, the Serdika Offices have got a usable area of about 28,500 m2. In terms of space, the sold properties make up about 8% of S IMMO's real estate portfolio. The transaction is subject to the approval of the Bulgarian competition authority and is expected to close within the next months.

With this sale, S IMMO is withdrawing from Bulgaria. The transaction will result in a net inflow (after deduction of credit financing) of approximately EUR 80m and furthermore has a positive effect on the consolidated net income for the period.

emitter:	S IMMO AG Friedrichstraße 10 1010 Wien Austria
contact person:	Andreas J. Feuerstein
phone:	+43 1 22795-1125
e-mail:	andreas.feuerstein@simmoag.at
website:	www.simmoag.at
ISIN(s):	AT0000652250 (share)
stock exchanges:	official trade in Vienna

News transmitted by pressetext.adhoc. The emitter is responsible for the content.