REG - Plaza Centers N.V. - PLAZA COMPLETES THE SALE OF DAVID HOUSE, BUDAPEST <Origin Href="QuoteRef">PLAZ.L</Origin>

Plaza Centers NVAnnouncement

21/02/2017 15:30

RNS Number : 4304X
Plaza Centers N.V.
21 February 2017
21 February 2017
 
PLAZA CENTERS N.V.
PLAZA CENTERS COMPLETES THE SALE OF DAVID HOUSE, BUDAPEST
Plaza Centers N.V. ("Plaza" or the "Company"), an emerging markets property developer, announces that one of its wholly owned subsidiaries has concluded the sale of David House, a 2,297 sqm office building in Budapest, Hungary for circa  3.2 million. 
Of the net proceeds, at least 75% will be distributed to the Company's bondholders on or before 31 March 2017, in line with the Company's stated amended Restructuring Plan.
Ends
For further details, please contact:
Plaza
Dori Keren, CEO +48 22231 99 00 
FTI Consulting 
Dido Laurimore / Claire Turvey / Tom Gough+44 20 3727 1000
Notes to Editors
Plaza Centers N.V. (www.plazacenters.com) is an emerging markets developer of shopping and entertainment centres. It focuses on constructing new centres and, where there is significant redevelopment potential, redeveloping existing centres in both capital cities and important regional centres. The Company is listed on the Main Board of the London Stock Exchange, as of 19 October 2007, on the Warsaw Stock Exchange (LSE: "PLAZ", WSE: "PLZ/PLAZACNTR") and, on the Tel Aviv Stock Exchange. Plaza Centers N.V. is an indirect subsidiary of Elbit Imaging Ltd. ("EI"), an Israeli public company whose shares are traded on both the Tel Aviv Stock Exchange in Israel and on the NASDAQ Global Market in the United States. Plaza Centers has been active in real estate development in emerging markets for over 21 years.

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