ALF Group Holdings AG: Initial Property Acquisition in Germany - First Due Diligence Started
(firmenpresse) -
ALF Group Holdings AG: Initial Property Acquisition in Germany - First Due Diligence Started
Zurich - 20th January 2011 - ALF Group Holdings AG (ALF) has appointed EFC Broker Services AG (EFC), a leading German real estate marketing firm and experienced property management company to source property acquisitions that fall within the company's target investment guidelines.
EFC recently consolidated a package of commercial and residential properties in Germany for ALF. This package was initially offered at a price in excess of 40m euro and EFC together with ALF, were able to negotiate the price to 32m euro. The blended yearly yield on the portfolio is approximately 9.5 percent.
EFC negotiated a 60 day exclusive due diligence period for ALF and are currently undertaking the relevant due diligence after which period should the due diligence be found to be satisfactory ALF German entity will execute a purchase agreement.
Additionally ALF is finalising the terms of a purchase of a major industrial property on a long term lease to the federal state. The purchase is subject to finance and final due diligence .This property reflects a 10 percent yield per year and would bring ALF’s property under offer in Germany to in excess of 50m euro.
ALF propose to fund these purchases from debt and funds raised in the capital increase approved by shareholders last year.
About ALF Group Holdings AG
ALF Group Holdings AG (ALF) wholly owns ALF Group Pty Ltd and its subsidiaries, which includes one of Australia’s largest litigation funders, and a corporate restructuring services company which also provides funding and debt and equity solutions. It is also an acquirer and developer of distressed assets.
For further information please contact:
ALF Group Holdings AG
Level 29, Chifley Tower
2 Chifley Square
Sydney, NSW 2000
Australia
Telephone +61-2-9293-2500
Fax +61-2-9293-2930
Website: www.alfgroupag.com
E-mail: info(at)alfgroupag.com
Legal Disclaimer
This press release contains forward-looking statements based on beliefs of ALF management. When used in this press release, words such as "anticipate", "believe", "estimate", "expect", "intend", "plan" and "project" are intended to identify forward-looking statements. Such statements reflect the views of ALF Group Holdings AG as of the date made with respect to future events and are subject to risks and uncertainties. Many factors could cause actual results to be materially different from those projected here, including, among others, changes in general economic and business conditions, changes in currency exchange rates and interest rates, introduction of competing products, lack of acceptance of new products or services and changes in business strategy. ALF disclaims any intention or obligation to update these forward-looking statements.
Leseranfragen:
Can Can Lingerie Holding AG
HEAD OFFICE
77-79 Anzac Parade
Kensington, 2033
Sydney, NSW, Australia
Ph: 02 9663 2842
Fax: 02 9663 2638
Email: reception(at)cancan.com.au
Datum: 20.01.2011 - 09:45 Uhr
Sprache: Deutsch
News-ID 27417
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