UNI - EN REPORT No53/2016
Plaza Centers N.V. (“Plaza” or the “Company”), an emerging markets property developer, announces that a wholly owned subsidiary of the Company, PC Enterprises BV, has acquired a bank loan of circa EUR 10 Million, which is held against the Company’s plot in Romania, for a total consideration of EUR 1.35 million.
The transaction represents a discount of over 86.5% on the bank loan amount and the Lender has now transferred all collateral associated with the project related to the loan to Plaza, while also releasing the Company from its recourse loan. As part of the terms of the transaction, the Lender has been granted a purchase option for a term of three years, to acquire the plot for EUR 1.1 million.
For further details, please contact:
Dori Keren, Acting CEO +48 22 231 99 00
Dido Laurimore/ Claire Turvey/ Tom Gough +44 20 3727 1000
Notes to Editors
Plaza Centers N.V. (www.plazacenters.com) is an emerging markets developer of shopping and entertainment centres. It focuses on constructing new centres and, where there is significant redevelopment potential, redeveloping existing centres in both capital cities and important regional centres. The Company is listed on the Main Board of the London Stock Exchange, as of 19 October 2007, on the Warsaw Stock Exchange (LSE:”PLAZ”, WSE: “PLZ/PLAZACNTR”) and, on the Tel Aviv Stock Exchange. Plaza Centers N.V. is an indirect subsidiary of Elbit Imaging Ltd. (“EI”), an Israeli public company whose shares are traded on both the Tel Aviv Stock Exchange in Israel and on the NASDAQ Global Market in the United States. Plaza Centers has been active in real estate development in emerging markets for over 20 years.