Brief: Atenor Enters Into Partnership For Square 42 Project; Sells Participation In Liv De Molens Project

Atenor SA

28/06/2023 09:49

June 28 (Reuters) - Atenor SA  ATEO.BR :
    * ANNOUNCED ON TUESDAY CO HAS ENTERED INTO A PARTNERSHIP
WITH
CORES DEVELOPMENT SA AND THEIR FINANCIAL PARTNER FOR ITS SQUARE
42 PROJECT IN LUXEMBOURG
    * ESTABLISHMENT OF THIS PARTNERSHIP WILL HAVE POSITIVE
IMPACT ON
ATENOR CASH FLOW OF AROUND EUR 12.5 MILLION
    * SELLS ITS PARTICIPATION IN LIV DE MOLENS PROJECT IN
BELGIUM
    * ATENOR AND ATENOR GROUP PARTICIPATIONS (AGP) WILL SELL
THEIR
SHARES IN "DE MOLENS" AND "MARKIZAAT" (50%) TO 3D, WHICH NOW
BECOMES THE SOLE SHAREHOLDER OF ABOVE COMPANIES 
    * 3D HAS ALSO TAKEN OVER THE ATENOR'S DEBT TOWARDS
“MARKIZAAT” AND
ACQUIRED ATENOR’S CLAIM TOWARDS “DE MOLENS”.
    * SHARES HELD BY ATENOR WERE SOLD FOR TOTAL PRICE EQUIVALENT
TO
EUR 9,069,123, SPECIFICALLY EUR 8,559,930 FOR SALE OF SHARES IN
“MARKIZAAT” AND EUR 509,193 FOR SALE OF SHARES IN “DE MOLENS”,
LESS NOMINAL VALUE OF DEBT TAKEN OVER (EUR 5,629,225.65) PLUS
THE NOMINAL VALUE OF THE CLAIM ACQUIRED (EUR 2,055,784.38)
    * POSITIVE CASH IMPACT FOR ATENOR AND AGP WOULD BE
APPROXIMATELY
EUR 7,760,000 NET    

    
 Source text: https://tinyurl.com/3w6u4py2
    
 Further company coverage:  ATEO.BR  
   


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