Brief: Frey Acquires AG Real Estate's Stake In FRF 2 Investment Vehicle

Frey SA

28/07/2020 17:55

July 28 (Reuters) - Frey SA  FREY.PA :
    * ANNOUNCED ACQUISITION OF AG REAL ESTATE'S STAKE IN FREY
RETAIL
FUND 2 (FRF 2) INVESTMENT VEHICLE
    * TRANSACTION ENABLES FREY TO STRENGTHEN ITS POSITION IN
HIGH
QUALITY ASSETS KNOWN TO COMPANY AND OFFERING SOLID PERFORMANCES
    * THE FRF 2 PORTFOLIO CONSISTS MAINLY OF 4 PRIME OPEN-AIR
SHOPPING
CENTRES IN BELFORT, CORMONTREUIL, DECHY AND TORCY AND 7 SMALLER
ASSETS LOCATED IN LEADING SITES IN THEIR CATCHMENT AREAS
    * TRANSACTION WILL BE PAID BY DELIVERY OF 650,000 FREY
SHARES HELD
IN TREASURY STOCK AND CASH PAYMENT OF EUR 20.2 MILLION FINANCED
FROM COMPANY'S OWN RESOURCES
    * AG REAL ESTATE STEAK'S TOTAL STAKE IN FREY WILL INCREASE
FROM
10.0% AT 30 JUNE 2020 TO ABOUT 12.7%
    * AG REAL ESTATE SIGNED UNDERTAKING TO RETAIN 650 000 FREY
SHARES 
  FOR 6 MONTHS FOLLOWING DATE OF COMPLETION OF TRANSACTION

Source text: https://bit.ly/39Alj4u
Further company coverage:  FREY.PA 

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