Meinl European Land Limited

euro adhoc: Meinl European Land Limited
Restructuring & Recapitalisations / Meinl European Land - disposal of some properties of the "old portfolio" in Hungary

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Meinl European Land Limited sells a portfolio of 28 smaller supermarkets in Hungary to Louis Delhaize, the French-Belgian retail group, which has been operating its supermarkets in these properties as tenant until now. All properties are part of the former Julius Meinl portfolio, which has been taken over by Meinl European Land in 1997. The Louis Delhaize group in turn has taken over all retail activities in Hungary from Julius Meinl group in 1999.

Meinl European Land regularly sells properties, which do no longer meet the company’s strategy or where the return potential has been reached. The company realised proceeds of almost EUR 17 million from the disposal of the properties. Compared to the most recent valuation at year-end 2004, this represents a gain of approximately 10%.

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ots Originaltext: Meinl European Land Limited
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Further inquiry note:
Pleon Publico Public Relations & Lobbying
Mag. Claudia Müller-Stralz
Tel.: ++43 (0) 1/717 86 107

Branche: Real Estate
ISIN:      AT0000660659
WKN:        066065
Börsen:    Wiener Börse AG

Weitere Meldungen: Meinl European Land Limited

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