2nd Dec 2015 17:09
LONDON (Alliance News) - Plaza Centers NV said Wednesday that its 50% owned venture Elbit Plaza India Real Estate Holdings Ltd has inked a deal to sell 100% of its interest in a special purpose vehicle which holds a site in Bangalore to an unnamed local investor.
The total consideration for the sale is around EUR45.4 million, of which 50% will go to Plaza. 75% of this will then be repaid to the company's bondholders, in line with its restructuring plan.
Shares in Plaza Centers NV were not traded on Wednesday, having last traded at 2.00 pence.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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