Brief: Inmobiliaria Del Sur Reports Related-Party Transactions

Inmobiliaria del Sur SA

22/12/2023 06:51

Dec 22 (Reuters) - Inmobiliaria del Sur SA  ISUR.MC  
    * REPORTED ON THURSDAY RELATED-PARTY TRANSACTIONS CARRIED
OUT BY
INMOBILIARIA DEL SUR OR ITS SUBSIDIARIES WITH IDS ANDALUCIA
PATRIMONIAL AND HERCALIANZ INVESTING GROUP
    * OPERATIONS ARE PART OF PROJECT RELATING TO ACQUISITION OF
TERTIARY ASSET FOR DEVELOPMENT OF TOURISM, CURRENTLY OWNED BY
IDS ANDALUCIA PATRIMONIAL
    * TO THIS END, HERCALIANZ INVESTING GROUP FORMALISED
TOGETHER WITH
INSUR PROMOCION INTEGRAL AND OTHER EXTERNAL PARTNERS,  DEED OF
INCORPORATION OF COMPANY IDS NERVION TOURIST AND LEISURE, JOINT
VENTURE THROUGH WHICH AFOREMENTIONED REAL ESTATE PROJECT WILL BE
DEVELOPED
    * HERCALIANZ INVESTING GROUP HAS TAKEN 17% STAKE IN SHARE
CAPITAL
OF THIS NEW COMPANY WITH TOTAL COMMITTED INVESTMENT OF 2.6 MLN
EUROS
    * PARTICIPATION HAS BEEN MADE ON SAME TERMS AS INSUR
PROMOCION
INTEGRAL, HICH HOLDS 35% OF HARE CAPITAL, AND REST OF EXTERNAL
SHAREHOLDERS, WHICH TOGETHER HOLD 48% OF SHARE CAPITAL
    * THIS RELATED-PARTY TRANSACTION CONSISTING OF PARTICIPATION
OF
HERCALIANZ INVESTING GROUP IN JOINT VENTURE ALSO INCLUDES ALL
OPERATIONS INVOLVED IN EXECUTION OF PROJECT

        
 Source text for Eikon:  urn:newsml:reuters.com:*:nCNM1YKKhH
 Further company coverage:  ISUR.MC  

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