25th Jul 2014 13:08
LONDON (Alliance News) - The Ottoman Fund Ltd Friday said that it has sold its Bodrum land asset for USD28.5 million to Besa Marin Turizm Isletmeleri AS.
"The Ottoman Fund's board of directors expects to announce a return of capital once a capital reduction in the company's Turkish subsidiary has been completed. This process is expected to take several months," the fund said in a statement.
The fund said that the sale price is in excess of the company's last published book value for the Bodrum land of USD26.7 million at the end of February.
By Samuel Agini; [email protected]; @samuelagini
Copyright 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
Ottoman Fund