VGP rises after extends Allianz JV

VGP NV

22/12/2022 09:03

** Shares in VGP  VGP1.BR  rise 4% after the real estate
firm announced the closing in the first joint venture with
Allianz Real Estate of three new logistic buildings and agreed
to extend the JV's term lifetime by 10 years to 2036
    ** The transaction, valued at around 110 million euros
($117.15 million), will comprise of one new logistic building in
Germany and two in the Czech Republic
    ** "This additional closing and 10yr extension shows that
VGP and Allianz are still on speaking terms and the cooperation
will continue well into the next decade," said KBC Securities in
a note
        ** The stock is on track for its best day in nearly a
month, when it closed 5.1% higher
($1 = 0.9390 euros)
 (Reporting by Dina Kartit)
 ((dina.kartit@thomsonreuters.com))