Brief: Warimpex Finanz und Beteiligungs sells part of its hotel portfolio
23/02/2017 14:15
Feb 23 (Reuters) - Warimpex Finanz und Beteiligungs AG
WXFB.VI :
* Announces partial sale of its hotel portfolio
* Partial sale of its hotel portfolio to Thai investor U
City Public Company Limited (U City)
* Transaction includes eight hotel participations (two of
which are partially (50 per cent) owned by UBM Development AG
(UBM))
* Property value of approximately 180 million euros ($190.33
million) (excluding stakes of ubm in that portfolio)
* Expects from transaction a positive earnings contribution,
which is expected to range between 15 million and 20 million
euros
* Sale will increase equity ratio of Warimpex to about 25
pct. Purchase price is in line with recent valuation opinions
from june 2016 by independent property appraisers
Source text for Eikon: ID:nPexdrFmpa
Further company coverage: WXFB.VI
($1 = 0.9457 euros)
(Gdynia Newsroom)
((gdynia.newsroom@thomsonreuters.com; +48 58 772 0920;))