December 9, 2016 / 7:08 AM / 8 months ago

BRIEF-Marvipol unit and Panattoni to cooperate on construction project

Dec 9 (Reuters) - Marvipol SA :

* Said on Thursday that its special purpose unit (SPU), PDC INDUSTRIAL CENTER 63 Sp. z o.o., signed an agreement with Panattoni Development Europe Sp. z o.o. (Panattoni) for construction of warehouse - logistics buildings on the property located in the area of the Silesian agglomeration (project)

* Under the agreement Panattoni will coordinate and monitor work related to the implementation of the project

* The agreement was signed under the condition that SPU will acquire the property on which the project will be implemented

* The letter of intent (LoI) with Panattoni Development Europe sp. z o.o. regarding the project was signed in Nov.

* Additionally, under the implementation of the project, the company signed a preliminary agreement for sale of 32 pct stake in SPU with PG Europe Sarl and a preliminary agreement for sale of 32 pct stake in SPU with Panattoni Development Europe Sp. z o.o.

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