EANS-Adhoc
Atrium European Real Estate Limited / ATRIUM SELLS A LAND PLOT IN TURKEY FOR EUR47M CONSIDERATION
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ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide
distribution. The issuer is solely responsible for the content of this
announcement.
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other/
24.04.2014
ATRIUM SELLS A LAND PLOT IN TURKEY FOR EUR47M CONSIDERATION
Ad hoc announcement - Jersey, 24 April 2014: Atrium European Real
Estate Limited ("Atrium" or the "Group" ") (VSE/Euronext: ATRS), a
leading owner, operator and developer of retail real estate and
shopping centres in Central and Eastern Europe, announces the sale of
its Turkish land plot situated on Istanbul's TEM highway for a total
consideration of EUR47.0m. The transaction represents a net loss of
EUR17.6m to value at 31 December 2013.
The sale is in line with Atrium's strategy of opportunistic sales of
non-core development properties, in order to both improve balance
sheet efficiency and monetise the Group's non-core landbank.
Commenting on the sale, Rachel Lavine, CEO of Atrium, said: "Today's
announcement marks further progress in our strategy of focusing the
Group's portfolio on the strongest and most stable economies in
Central and Eastern Europe and decreasing our landbank. It also
improves the efficiency of Atrium's balance sheet and helps us with
our longer term aim of increasing the weighting of our total
portfolio towards income producing standing investments through
opportunistic divestment of our non-core landbank."
For further information:
FTI Consulting Inc.:
+44 (0)20 7831 3113
Richard Sunderland
Will Henderson
Nick Taylor
atrium@fticonsulting.com
About Atrium European Real Estate
Atrium is a leading real estate company focused on shopping centre
investment, management and development in Central and Eastern Europe.
As at 31 December 2013 the Group owned 153 shopping centres and
retail properties, with a market value of EUR2.4 billion, diversified
across seven countries with a total gross lettable area of 1.3
million sqm. In 2013, Atrium produced a gross rental income of
EUR203.5 million.
The Company is based in Jersey and dual listed on the Vienna and
Euronext Amsterdam Stock Exchanges under the ticker ATRS.
This press release appears as a matter of record only and does not
constitute an offer to sell or a solicitation of an offer to purchase
any security. Atrium is established as a closed-end investment
company domiciled in Jersey. Atrium is registered with the Dutch
Authority for the Financial Markets as a collective investment scheme
which may offer participations in The Netherlands pursuant to article
2:66 of the Financial Supervision Act (Wet op het financieel
toezicht). 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:
FTI Consulting Inc
+44 (0)20 7831 3113
Richard Sunderland
Will Henderson
richard.sunderland@fticonsulting.com
end of announcement euro adhoc
--------------------------------------------------------------------------------
issuer: Atrium European Real Estate Limited
Seaton Place 11-15
UK-JE4 0QH St Helier Jersey / Channel Islands
phone: +44 (0)20 7831 3113
mail: richard.sunderland@fticonsulting.com
WWW: http://www.aere.com
sector: Real Estate
ISIN: JE00B3DCF752
indexes: Standard Market Continuous
stockmarkets: official market: Wien
language: English
ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide
distribution. The issuer is solely responsible for the content of this
announcement.
--------------------------------------------------------------------------------
other/
24.04.2014
ATRIUM SELLS A LAND PLOT IN TURKEY FOR EUR47M CONSIDERATION
Ad hoc announcement - Jersey, 24 April 2014: Atrium European Real
Estate Limited ("Atrium" or the "Group" ") (VSE/Euronext: ATRS), a
leading owner, operator and developer of retail real estate and
shopping centres in Central and Eastern Europe, announces the sale of
its Turkish land plot situated on Istanbul's TEM highway for a total
consideration of EUR47.0m. The transaction represents a net loss of
EUR17.6m to value at 31 December 2013.
The sale is in line with Atrium's strategy of opportunistic sales of
non-core development properties, in order to both improve balance
sheet efficiency and monetise the Group's non-core landbank.
Commenting on the sale, Rachel Lavine, CEO of Atrium, said: "Today's
announcement marks further progress in our strategy of focusing the
Group's portfolio on the strongest and most stable economies in
Central and Eastern Europe and decreasing our landbank. It also
improves the efficiency of Atrium's balance sheet and helps us with
our longer term aim of increasing the weighting of our total
portfolio towards income producing standing investments through
opportunistic divestment of our non-core landbank."
For further information:
FTI Consulting Inc.:
+44 (0)20 7831 3113
Richard Sunderland
Will Henderson
Nick Taylor
atrium@fticonsulting.com
About Atrium European Real Estate
Atrium is a leading real estate company focused on shopping centre
investment, management and development in Central and Eastern Europe.
As at 31 December 2013 the Group owned 153 shopping centres and
retail properties, with a market value of EUR2.4 billion, diversified
across seven countries with a total gross lettable area of 1.3
million sqm. In 2013, Atrium produced a gross rental income of
EUR203.5 million.
The Company is based in Jersey and dual listed on the Vienna and
Euronext Amsterdam Stock Exchanges under the ticker ATRS.
This press release appears as a matter of record only and does not
constitute an offer to sell or a solicitation of an offer to purchase
any security. Atrium is established as a closed-end investment
company domiciled in Jersey. Atrium is registered with the Dutch
Authority for the Financial Markets as a collective investment scheme
which may offer participations in The Netherlands pursuant to article
2:66 of the Financial Supervision Act (Wet op het financieel
toezicht). 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:
FTI Consulting Inc
+44 (0)20 7831 3113
Richard Sunderland
Will Henderson
richard.sunderland@fticonsulting.com
end of announcement euro adhoc
--------------------------------------------------------------------------------
issuer: Atrium European Real Estate Limited
Seaton Place 11-15
UK-JE4 0QH St Helier Jersey / Channel Islands
phone: +44 (0)20 7831 3113
mail: richard.sunderland@fticonsulting.com
WWW: http://www.aere.com
sector: Real Estate
ISIN: JE00B3DCF752
indexes: Standard Market Continuous
stockmarkets: official market: Wien
language: English
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