SPRIDER STORES S.A
SPRIDER STORES Group proceeded in the sale of the EXPO ATHENS property for EUR 39.5 million
SPRIDER STORES Group of companies proceeded on Friday, 13th of April 2007, in the sale of the real estate property, where the EXPO ATHENS showroom centre and the SPRIDER STORE in Anthousa are housed, for the price of Euro 39.5 million to ARCANIAN BETA PROPERTIES S.A.
EXPO ATHENS is one of the largest showroom centres in Greece, with a total covered surface area of 31,000 sq.m., which is built on a land plot of 42,860 sq.m. Given that SPRIDER STORES Group is active in the apparel retail sale sector, the above facilities were considered non - operational fixed assets and their sale was made within the broader strategic plan of focusing on the Group?s core business. In any case the income arising from the transaction is extraordinary and non-recurrent.
With regard to the Anthousa SPRIDER STORE, SPRIDER STORES Group will continue to use the real estate in which it was housed, by renting it from ARCANIAN BETA PROPERTIES S.A. for the next 12 years.
EXPO ATHENS is one of the largest showroom centres in Greece, with a total covered surface area of 31,000 sq.m., which is built on a land plot of 42,860 sq.m. Given that SPRIDER STORES Group is active in the apparel retail sale sector, the above facilities were considered non - operational fixed assets and their sale was made within the broader strategic plan of focusing on the Group?s core business. In any case the income arising from the transaction is extraordinary and non-recurrent.
With regard to the Anthousa SPRIDER STORE, SPRIDER STORES Group will continue to use the real estate in which it was housed, by renting it from ARCANIAN BETA PROPERTIES S.A. for the next 12 years.