DGAP-News: ORCO Germany S.A.: Expected cash flow in the next 12 months
ID: 405677
ORCO Germany S.A.: Expected cash flow in the next 12 months
13.05.2011 / 16:29
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ORCO Germany S.A. ('OG') is expecting net cash flows for the next 12 months
largely corresponding to the expected estimated net proceeds from the
initiated sale of Sky Office, an office tower in Dusseldorf which is 71%
leased and is valued by DTZ at EUR 138 million as at the end of 2010. The
net cash inflow from the sale could be between EUR 30 and 40 million by Q1
of 2012. The sale of smaller OG assets has been initiated, with an expected
net cash inflow between EUR 3 and 5 million over the next 12 months.
Lastly, the third part of proceeds from the sale of Leipziger Platz (as per
the press release of 1 February 2011), which is deferred to cover project
development risks overtaken by OG is not planned to be cashed within the
next 36 months.
About ORCO Germany
ORCO Germany S.A. is a property company that is listed in the Prime
Standard on the Regulated Market at Frankfurt Stock Exchange and has its
registered office in Luxembourg. The ORCO Germany Group, which acts
consistently under its registered name of ORCO Germany, has been operating
in Germany since 2004 and concentrates on commercial property as well as on
asset management and project development.
ORCO Germany is a subsidiary of ORCO Property Group, which is one of the
leading Central European property companies. The company established in
1991 is based in Luxembourg and has Euronext, Prague, Budapest and Warsaw
Stock Exchange listings.
For further information please contact:
Kirchhoff Consult AG
Sebastian Bucher
T +49 40 60 91 86 18
F +49 40 60 91 86 60
sebastian.bucher@kirchhoff.de
End of Corporate News
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13.05.2011 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: ORCO Germany S.A.
40, Parc d'Activités Capellen
8308 Capellen
Großherzogtum Luxemburg
Phone: +49 (0)30 390 93 116
Fax: +49 (0)30 390 93 199
E-mail: patricia.jaenisch@orco-gsg.de
Internet: www.orcogermany.de
ISIN: LU0251710041
WKN: A0JL4D
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Düsseldorf, Stuttgart
End of News DGAP News-Service
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124705 13.05.2011Unternehmensinformation / Kurzprofil:
Datum: 13.05.2011 - 16:29 Uhr
Sprache: Deutsch
News-ID 405677
Anzahl Zeichen: 3688
Kontakt-Informationen:
Kategorie:
Wirtschaft (allg.)
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