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BRIEF-Echo Investment signs annexes to investment agreements
June 13, 2017 / 6:25 AM / in 5 months

BRIEF-Echo Investment signs annexes to investment agreements

June 13 (Reuters) - ECHO INVESTMENT SA:

* SAID ON MONDAY THAT ALONG WITH GRUPA ECHO SP. Z O.O. AND FORUM 60 FIZ SIGNED WITH IB 14 FIZ AN (UNIT CONTROLLED BY GRIFFIN PREMIUM RE. N.V., BUYER) ANNEX TO A PRELIM. DEAL CONCERNING PURCHASE OF 114 SP. Z O.O AND ELISSEA INVESTMENTS SP. Z O.O. (PROJECT COMPANIES)

* BUYER AGREED TO ACQUIRE BONDS FOR 18.0 MILLION EUROS FROM COMPANY‘S UNIT ISSUED UNDER PRIVATE PLACEMENT

* NOMINAL VALUE OF BONDS IS TO BE, AMONG OTHERS, OFFSET IN PURCHASE PRICE OF PROJECT COMPANIES

* INITIAL SALE PRICE FOR PROJECT COMPANIES WAS SET AT 18.0 MILLION EUROS

* COMPANY, GRIFFIN PREMIUM AND GPRE MANAGEMENT SP. Z O.O. (GRIFFIN PREMIUM UNIT), SIGNED ALSO ANNEX TO DEAL CONCERNING INVESTMENT OF 25 PCT OF CAPITAL ALREADY INVESTED, AND FUTURE CAPITAL REQUIRED TO COMPLETE CONSTRUCTION AND TO FINALISE OFFICE PROJECTS IN WARSAW (‘BEETHOVEN’ AND ‘BROWARY WARSZAWSKIE’)

* GPRE MANAGEMENT AGREED TO ACQUIRE BONDS OF SEVERAL SERIES WITH TOTAL NOMINAL VALUE AND ISSUE PRICE OF 6.4 MILLION EUROS

Source text for Eikon:

Further company coverage: (Gdynia Newsroom)

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