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Meinl European Land Limited

euro adhoc: Meinl European Land Limited
Restructuring & Recapitalisations
Meinl European Land Limited - Capital Increase a major success 75 million Euro shopping centre in Russia acquired Property portfolio exceeds 630 million Euro

Disclosure announcement transmitted by euro adhoc.
  The issuer is responsible for the content of this announcement.
22.03.2005
Share capital increased up to 480 million nominal value
Meinl European Land, the retail real estate holding company with a
focus on Central and Eastern Europe has successfully completed the
largest capital increase in the company’s history. Between 3rd and
18th March 2005 42 million new shares with a total value of 560
million Euro were  placed with private and institutional investors.
Including the new shares issued, 96 million shares with a total
nominal value of 480 million Euro are listed in the First Market
Segment on the Vienna Stock Exchange. At the current market price of
13.74 Euro per share the market capitalisation exceeds 1.3 billion
Euro.
Shopping centre in Ekaterinenburg signed
The 560 million Euro of new funds from the capital increase will
allow Meinl European Land to intensify its dynamic growth and
proceeds will continue to be invested in long-term leased retail real
estate projects . Beyond several smaller acquisitions, which have
been closed during the recent weeks, the company yesterday signed the
contracts for  a 75 million Euro shopping centre in
Ekaterinenburg/Russia, an industrial hub with over 1.5 million
inhabitants. The project, the only modern shopping centre in
Ekaterinenburg, has a total letable area of more than 50,000sqm and
the  yield is nearly 14% p.a. The project is long-term leased by the
Russian Joint-Venture partner of german based Rewe and major russian 
retail companies.
Total letable area nearly 700,000sqm in 6 Eastern European countries
- further attractive pipeline
After these latest acquisitions Meinl European Land’s owns 166 retail
real estates with a total letable area of nearly 700,000 sqm and an
estimated value of more than 630 million Euro in 6 Eastern European
countries: the Czech Republic, Hungary, Poland, Romania, Russia and
Slovakia. Properties are mostly leased by international retail
companies or other well-known local companies and generate a yield
from 9% to 14%.
Meinl European Land’s project pipeline consists of attractive retail
properties with a total value of several hundred million Euro. Some
of these projects are already under due diligence.
end of announcement                    euro adhoc 22.03.2005 07:23:20 

Further inquiry note:

Pleon Publico Public Relations & Lobbying
Mag. Claudia Müller-Stralz
Tel.: ++43 (0) 1/717 86 107
mailto:claudia.mueller@pleon-publico.com

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

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