Brief: RomReal: Two conditional sales agreements of EUR 17.8-18.2 million

RomReal

02/01/2017 07:00

Jan 2 (Reuters) - Romreal Ltd  ROMR.OL  
    * Announces conditional land bank sales agreements of 17.75 million euros ($18.67 million) 
to 18.15 million euros 
    * One of two remaining development projects in Bucharest, Morii Lake, is agreed to be sold 
for gross amount of 2.65 million euros 
    * Has agreed sale of Mamaia North Development Project in Constanta, totalling gross 15.1 
million to 15.5 million euros  
    * Selling price for Mamaia North to increase to 15.5 million euros, if RomReal subsidiary is 
to win on-going legal dispute with local municipality regarding 1,453 square meter part of plot 
    * Total prices agreed after tax are around 20 pct above most recent independent IFRS 
valuation 
 
Source text for Eikon:  ID:nGNE7nLP2P  
Further company coverage:  ROMR.OL  
 
($1 = 0.9505 euros) 
 
 (Gdynia Newsroom) 
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