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BRIEF-Deutsche Euroshop buys shopping center in Czech Republic, approves capital increase
March 7, 2017 / 5:02 PM / 5 months ago

BRIEF-Deutsche Euroshop buys shopping center in Czech Republic, approves capital increase

March 7 (Reuters) - Deutsche Euroshop AG:

* Signs a purchase agreement for a shopping center in the Czech Republic and approves a capital increase excluding subscription rights of up to 4.7 million new shares

* Olympia Center has approximately 85,000 sqm of leasable space, more than 200 tenants and an occupancy rate of around 98.5%.

* Total investment volume of around 382 million euros ($404.08 million) will be funded by assuming existing loans and taking out new ones, and with cash from a capital increase

* Acquisition is planned to be completed during first half of 2017 and will have a positive impact on funds from operations (FFO)

* Price for offered shares is expected to be determined by no later than March 8, 2017 Source text for Eikon: Further company coverage: ($1 = 0.9454 euros) (Gdynia Newsroom)

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