10th Mar 2016 09:37
LONDON (Alliance News) - Public Service Properties Investments Ltd on Thursday said it has agreed to sell its remaining properties leased to Marseille Kliniken Group for EUR10.0 million.
The sales have been made to subsdiaries of Marseille Kliniken, the German nursing home owner, and should close in around six weeks.
Public Service said it will use around EUR4.1 million of the proceeds to pay down its senior debt pile, with the rest to be used to cover sale costs and working capital.
Shares in the company were up 11% to 50.00 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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