Meinl European Land Limited

euro adhoc: Meinl European Land Limited
Mergers - Acquisitions - Takeovers
Meinl European Land Limited acquires project in Bucharest Romania already third new market in 2004 after market entrance to Poland and Russia Capital increase has started suc

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Meinl European Land the real estate holding listed on Vienna Stock Exchange pushes its expansion and acquires the first property in Romania. With today the company is already operating in 5 countries in Eastern Europe. The 20 Mio Euro project shall be financed with proceeds of the capital increase which has started successful last Monday.

Again expansion to new markets (tenant: German Metro group)

After the acquisitions in Poland and Russia in September the company has signed last week the contracts for a big special format store in Bucharest. Total investment value is around 20 Mio Euro and the project generates a yield of approx. 11% per year. The project has a completed area of around 14,000m² which is long-term leased by the German Metro group with its do-it-yourself-market "Praktiker". Moreover there exists an expansion area of around 140,000m². The company expects a growth of Romanian economy during the next years. Thus the expansion area offers a good opportunity, which will be taken and developed step by step.

Until year end also expansion to Slovakia

For this year the company also plans to enter the Slovak market. Meinl European Land has already signed a letter of intend for two large shopping centres, which shall be closed until mid of November. After this acquisition Meinl European Land will be operating in 6 countries.

Capital increase successful started

The new projects shall be financed with the proceeds of the current capital increase, which has started successful last Monday. Until October 22nd 12 million new shares will be offered to investors at a subscription price of 12.39 EUR.

end of announcement            euro adhoc 11.10.2004

Further inquiry note: ECC Publico Public Relations & Lobbying Mag. Claudia Müller-Stralz Tel.: ++43 (0) 1/717 86 107

Branche: Real Estate
ISIN:      AT0000660659
WKN:        066065
Index:    Standard Market Auction
Börsen:  Wiener Börse AG / official dealing

Weitere Meldungen: Meinl European Land Limited

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