Brief: Renta Corp Reaches Agreement With BCP On Urban Storage Business

Renta Corporacion Real Estate SA

08/11/2024 06:17

Nov 8 (Reuters) - Renta Corporacion Real Estate SA
 REN.MC :
    * SAID ON THURSDAY IT REACHED AGREEMENT WITH BC PARTNERS TO
GROW
ACQUISITION AND OPERATION OF STORAGE ROOMS BUSINESS IN SPAIN,
THROUGH CABE KEEP AND LOCK
    * RENTA ES SOLD 30% OF CABE BUSINESS TO BCP, MAINTAINING 70%
STAKE
    * BCP COMMITTED 40 MLN EURO INVESTMENT THROUGH CAPITAL
INJECTIONS
    * THIS INVESTMENT WILL ALLOW IT TO GROW FROM 20 TO 80 ASSETS
OVER
NEXT THREE YEARS
    * RENTA CORPORACION WILL HAVE EXCLUSIVE MANAGEMENT RIGHTS,
TOGETHER WITH CABE TEAM
    * RENTA CORPORACION WILL RECEIVE RECURRING FEES LINKED TO
PURCHASE
AND DEVELOPMENT OF REAL ESTATE ASSETS IN WHICH CABE INVESTS, AS
WELL AS FOR BUSINESS MANAGEMENT

        
 Source text for Workspace:  urn:newsml:reuters.com:*:nCNMVtkNj
 Further company coverage:  REN.MC  

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 769 66 00;))