(Adds deal details and CEO comment in paragraphs 2-4)
May 16 (Reuters) - Cromwell Property (CMW) said on Thursday it would sell its six retail centres in Poland held by Cromwell Polish Retail Fund for 285 million euros ($310.31 million) to Star Capital Finance, a real estate investor based in Prague, Czechia.
The deal is in line with real estate investor and fund manager Cromwell Property's strategy to streamline the company by disposing of non-core investments, Cromwell said.
Cromwell plans to use the sale proceeds to repay debt. "The completion of this sale, and subsequent debt repayment, significantly simplifies our business, bringing us closer to our goal of being a capital-light fund manager," CEO Jonathan Callaghan said. ($1 = 0.9184 euros)
News: CMW UPDATE 1-Australia's Cromwell Property to sell 6 Polish retail centres for $310 million
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Last
45.0¢ |
Change
0.010(2.27%) |
Mkt cap ! $1.178B | |||
| Open | High | Low | Value | Volume |
| 44.0¢ | 46.0¢ | 43.5¢ | $2.293M | 5.084M |
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| Price($) | Vol. | No. |
|---|---|---|
| 45.0¢ | 99996 | 1 |
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