14th Jul 2016 15:04
LONDON (Alliance News) - Plaza Centers NV Thursday said it had sold an 18,400 square meter plot in a suburb of Ploiesti, Romania, to a local investor for EUR280,000.
On completion of the sale, 75% of the net cash proceeds will be distributed to the company's bondholders, it said, in line with its restructuring plan.
"This sale is part of our ongoing portfolio repositioning strategy, whereby we are disposing of our non-core assets in order to focus on a core set of properties that will enable us to deliver higher quality income, strengthen our balance sheet and continue to progress the implementation of the restructuring plan," said Acting Chief Executive Dori Keren in a statement.
Shares in Plaza Centers were untraded Thursday afternoon. They last closed at 277.00 pence.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
Copyright 2016 Alliance News Limited. All Rights Reserved.
Related Shares:
Plaza