Brief: Echo Investment Signs Deals On Construction Project Of Student Accommodation In Poland

Echo Investment SA

06/03/2024 07:49

March 6 (Reuters) - Echo Investment SA  ECH.WA :
    * CONCLUDES TRANSACTION WITH SIGNAL ALPHA 3 R1
    * TRANSACTION REGARDS JOINT PROJECT FOR CONSTRUCTION OF
STUDENT
ACCOMMODATION IN POLAND
    * UNDER TRANSACTION COMPANY SIGNS SHAREHOLDERS' AGREEMENT
WITH
SIGNAL ALPHA 3 R1, SIGNAL ALPHA 3 C2
    * UNDER TRANSACTION COMPANY SIGNS FRAMEWORK AGREEMENT WITH
SIGNAL
ALPHA 3 R1, JVCO
    * SIGNAL ALPHA 3 C2 AND JVCO ARE SAME ENTITY CONTROLLED BY
SIGNAL
3 R1
    * COMPANY PLANS TO SPEND UP TO EUR 31.3 MILLION ON PROJECT
    * COMPANY'S FINANCING TO BE SOURCED IN 40-50% FROM OWN
FUNDS, AND
REMAINDER FROM DEBT
    * FOLLOWING FINALISING OF TRANSACTION COMPANY TO BE ELIGIBLE
TO
30% SHARE IN JVCO PROFITS
    * ESTIMATED IMPLEMENTATION PERIOD TO RANGE BETWEEN THREE TO
FIVE
YEARS

Source text for Eikon:  ID:nEM59lnQna 
Further company coverage:  ECH.WA 

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