February 21, 2018 / 1:23 PM / 9 months ago

BRIEF-Hyprop Investments Acquires Shopping Centres In Croatia​

Feb 21 (Reuters) - Hyprop Investments Ltd:

* ‍ACQUISITION OF SHOPPING CENTRES IN CROATIA​

* ‍UK JOINT VENTURE COMPANY, HYSTEAD ENTERED INTO AN AGREEMENT TO ACQUIRE A 90% INTEREST IN A COMPANY THAT OWNS TWO SHOPPING CENTRES​

* ‍PURCHASE CONSIDERATION NET OF EUR154.4 MILLION ASSET-BASED FINANCE IS EUR129.1 MILLION, OF WHICH HYPROP’S 60% EFFECTIVE SHARE IS ABOUT EUR77.5 MILLION (R1.12 BILLION)​

* ‍SHOPPING CENTRES WERE ACQUIRED AT COMBINED PROPERTY YIELD OF ABOUT 7%, EXPECTED TO ENHANCE HYPROP’S DISTRIBUTIONS TO SHAREHOLDERS​

* ‍FUNDING OF ACQUISITION THROUGH ASSET BASED FUNDING (LOAN TO VALUE OF 55%) SECURED ON A 5-YEAR TERM​ Source text for Eikon: Further company coverage:

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