March 30, 2018 / 6:26 AM / 4 months ago

BRIEF-Ronson Europe Signs Deal To Acquire Nova Królikarnia Project

March 29 (Reuters) - Ronson Europe NV:

* SAID ON THURSDAY THAT IT HAS SIGNED AN AGREEMENT WITH GLOBAL CITY HOLDINGS BV (GCH) UNDER WHICH IT AGREED TO ACQUIRE CERTAIN SHARES IN PROJECT COMPANIES OWNING PROPERTIES CONSTITUTING THE NOVA KRÓLIKARNIA PROJECT FOR 83.8 MILLION ZLOTYS

* PART OF THE PURCHASE PRICE IN THE AMOUNT OF 23.8 MILLION ZLOTYS WILL BE PAID UPON THE CLOSING OF THE TRANSACTION ON APRIL 10

* THE AMOUNT OF 60.0 MILLION ZLOTYS WILL REMAIN OUTSTANDING AND SHALL BE PAID IN INSTALMENTS WITHIN 12 MONTHS AFTER THE CLOSING OF THE TRANSACTION

* THE COMPANY AND GCH WILL CONCLUDE ALSO ANOTHER AGREEMENT, UNDER WHICH RONSON WILL BE GRANTED WITH THREE CALL OPTIONS WITH RESPECT TO THE SHARES IN THE EIGHT OTHER PROJECT COMPANIES HOLDING THE REMAINING STAGES OF NOVA KRÓLIKARNIA PROJECT TO BE EXECUTED WITHIN NEXT TWO YEARS

* NOVA KRÓLIKARNIA PROJECT, LOCATED IN WARSAW, CONSISTS OF FEW PHASES OF RESIDENTIAL DEVELOPMENT CURRENTLY BEING IN VARIOUS STAGES OF DEVELOPMENT

Source text - bit.ly/2GCr3yH

Further company coverage: (Gdynia Newsroom)

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