NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN
Acquisition of 99,99% of the share capital of "ELIADE TOWER S.A.", a Romanian joint stock company, owner of an office building located in the Floreasca area in Bucharest, Romania
In line with the Company's investment strategy to further expand its investment portfolio, Eurobank Properties Real Estate Investment Company (the "Company"), has entered into an agreement for the purchase of 99,99% of the shares of Romanian joint stock company "ELIADE TOWER S.A.", which is the owner of an office building.
The property is located at 18, Mircea Eliade Blvd, 1st district in the Floreasca area, on the boarders of Floreasca lake on the northern side of Bucharest. This office building consists of a basement, ground floor and ten further floors, with a total gross leasable area of 9,704 square meters. The building underwent refurbishment in 2006 and is fully leased to international and Romanian companies.
The acquisition price for the shares of "ELIADE TOWER S.A." has been agreed at euro 26,250,000 on a debt free basis and will be paid upon satisfaction of certain conditions.
According to Mr. George Chryssikos, Investment Manager of the Company, "the present investment will be financed partially through the Company's own funds and partially through future debt financing, taking advantage of the recent amendments to the regulatory framework applicable to Greek REICs".
Mr Aristotelis Karytinos, executive member of the Board of Directors and member of the Investment Committee of Eurobank Properties REIC, noted: "In the last month our Company has successfully concluded three deals in the Balkan area, proving our ability to take advantage of the current favourable momentum in the real estate markets in the region, which we plan to fully capitalize on."
This announcement is not for publication or distribution, directly or indirectly, in or into the United States of America (including its territories and possessions, any state of the United States and the District of Columbia). This announcement is not an offer of securities for sale into the United States. The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States, except pursuant to an applicable exemption from registration. No public offering of securities is being made in the United States.