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6 months ago
BRIEF-Warimpex Finanz und Beteiligungs sells part of its hotel portfolio
February 23, 2017 / 2:22 PM / 6 months ago

BRIEF-Warimpex Finanz und Beteiligungs sells part of its hotel portfolio

Feb 23 (Reuters) - Warimpex Finanz und Beteiligungs AG :

* Announces partial sale of its hotel portfolio

* Partial sale of its hotel portfolio to Thai investor U City Public Company Limited (U City)

* Transaction includes eight hotel participations (two of which are partially (50 per cent) owned by UBM Development AG (UBM))

* Property value of approximately 180 million euros ($190.33 million) (excluding stakes of ubm in that portfolio)

* Expects from transaction a positive earnings contribution, which is expected to range between 15 million and 20 million euros

* Sale will increase equity ratio of Warimpex to about 25 pct. Purchase price is in line with recent valuation opinions from june 2016 by independent property appraisers Source text for Eikon: Further company coverage: ($1 = 0.9457 euros) (Gdynia Newsroom)

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