Atrium European Real Estate Limited
EANS-News: Atrium European Real Estate Limited
ATRIUM COMPLETES THE SALE OF
ATRIUM MILITARI SHOPPING CENTRE IN ROMANIA
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Corporate news transmitted by euro adhoc with the aim of a Europe-wide
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Company Information
St Helier Jersey / Channel Islands -
Atrium European Real Estate Limited
ATRIUM COMPLETES THE SALE OF ATRIUM MILITARI SHOPPING CENTRE IN ROMANIA
Jersey, 6 July 2018.
Further to its announcement of 27 April 2018, Atrium European Real Estate
Limited (VSE/ Euronext: ATRS) ("Atrium" or the "Company" and together with its
subsidiaries, the "Group") announces that it has completed the sale of the
Atrium Militari shopping centre in Bucharest, Romania to MAS Real Estate Inc.
for EUR95 million, which represents a 9% premium to book value on 31 December
2017.
The divestment of the Company's only shopping centre in Romania follows Atriums
exit of substantially all of its assets in Hungary. These transactions form part
of Atrium's ongoing strategy of rebalancing its portfolio both geographically,
towards Poland and the Czech Republic, Central Europe's strongest economies, and
by asset class towards larger scale, well-established shopping centres in strong
urban locations which dominate their catchment areas.
Liad Barzilai, Chief Executive Officer of Atrium Group, commented: "This
disposal sees Atrium cease its operational activities in Romania and further
increase its portfolio weighting towards Poland and the Czech Republic, where we
have significant critical mass and are better placed to benefit from leveraging
efficiencies, sustainable growing cash flows and economies of scale."
For further information:
FTI Consulting Inc.: +44 (0)20 3727 1000
Richard Sunderland, Claire Turvey, Ellie Sweeney
atrium@fticonsulting.com
The Company is established as a closed-end investment company incorporated and
domiciled in Jersey and regulated by the Jersey Financial Services Commission as
a certified Jersey listed fund, and is listed on both the Vienna Stock Exchange
and the Euronext Amsterdam Stock Exchange. Appropriate professional advice
should be sought in the case of any uncertainty as to the scope of the
regulatory requirements that apply by reason of the above regulation and
listings. All investments are subject to risk. Past performance is no guarantee
of future returns. The value of investments may fluctuate. Results achieved in
the past are no guarantee of future results.
Further inquiry note:
For further information:
FTI Consulting Inc.:
+44 (0)20 3727 1000
Richard Sunderland
Claire Turvey
Richard.sunderland@fticonsulting.com
end of announcement euro adhoc
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issuer: Atrium European Real Estate Limited
Seaton Place 11-15
UK-JE4 0QH St Helier Jersey / Channel Islands
phone: +44 (0)20 7831 3113
FAX:
mail: richard.sunderland@fticonsulting.com
WWW: http://www.aere.com
ISIN: JE00B3DCF752
indexes:
stockmarkets: Wien, Luxembourg Stock Exchange
language: English