25th Nov 2013 09:44
LONDON (Alliance News) - Real estate investment trust Assura Group Ltd Monday said it will sell the equity and loan note investments in seven Local Improvement Finance Trusts for GBP22.4 million combined.
In a statement, the company said the sale price represents a GBP11.2 million premium over the current book value of the assets. However, the sale is conditional on relevant third party consents from LIFT project counterparties and on equity fundraising by one of the potential acquirers. It hopes the deal will complete before the end of the year.
"Following this sale announced today, we have now realised more than GBP30 million from our non-core assets and LIFT investments in the last 18 months, as we to continue to increase our focus on developing, owning and managing primary care properties," Chief Executive Grham Roberts said in a statement.
Assura Group shares were up 2.7% at 37.5 pence Monday morning.
By Alice Attwood; [email protected]; @AliceAtAlliance
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