Brief: Insur Carries Out Related-Party Transaction With Hercalianz Investing Group

Inmobiliaria del Sur SA

07/11/2024 06:58

Nov 7 (Reuters) - Inmobiliaria del Sur SA  ISUR.MC :
    * SAID ON WEDNESDAY IT CARRIED OUT RELATED-PARTY TRANSACTION
WITH
HERCALIANZ INVESTING GROUP
    * DEED OF INCORPORATION OF JOINT VENTURE WAS EXECUTED BY
INSUR
PROMOCION INTEGRAL, HERCALIANZ INVESTING GROUP AND OTHER
EXTERNAL PARTNERS
    * JV PURPOSE IS TO BUY TWO PLOTS OF LAND FROM THIRD PARTIES
TO
DEVELOP RESIDENTIAL PROPERTY
    * HERCALIANZ INVESTING GROUP TAKES 12.50% STAKE IN NEW
COMPANY
WITH TOTAL COMMITTED INVESTMENT OF 2.1 MLN EUROS
    * INSUR PROMOCION INTEGRAL HOLDS 50% OF SHARE CAPITAL,
REMAINING
EXTERNAL SHAREHOLDERS HOLD TOTAL OF 37.50%

        
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