10th Sep 2015 10:39
LONDON (Alliance News) - Plaza Centers NV on Thursday said it has agreed a deal to sell Palazzo Ducale, an office building in Bucharest, the Romanian capital, for EUR1.085 million.
The company said the sale price is consistent with the asset's last reported book value.
"In line with the company's stated restructuring plan, 75% of the net cash proceeds from the transaction will be distributed to the company's bondholders by the end of September 2015 as an early principal repayment," Plaza Centers said.
Shares in Plaza Centers were untraded at 3.00 pence on Thursday.
By Samuel Agini; [email protected]; @samuelagini
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