DGAP-News: ORCO Germany S.A.: Funds advised by Morgan Stanley Real Estate Investing to become Orco's largest shareholder - Orco Property Group to increase control over Orco Germany
(firmenpresse) - DGAP-News: ORCO Germany S.A. / Key word(s): Miscellaneous
ORCO Germany S.A.: Funds advised by Morgan Stanley Real Estate
Investing to become Orco's largest shareholder - Orco Property Group
to increase control over Orco Germany
18.08.2011 / 18:15
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Orco Property Group ('Orco') and Funds advised by Morgan Stanley Real
Estate Investing ('MSREI') have entered into an agreement regarding MSREI's
investment in Orco. Subject to regulatory and internal approvals and final
closing, Orco and MSREI have agreed that Orco will issue 3 Million ordinary
shares in a private placement. The subscriptions of said Orco shares will
be paid by MSREI through contributions of its stakes in Orco Germany and
Endurance Real Estate Fund. Following the completion of the transaction,
MSREI will become the largest shareholder of Orco with app. 18.7%. Orco
will increase its stake in Orco Germany to app. 87.3% and in the two
Sub-funds of Endurance Real Estate Fund as follows, 14.8% in the
Residential Sub-fund and 27% in the Office I Sub-fund.
'Today, Orco Property Group has set in motion its strategy of reinforcing
its control over an Orco Germany portfolio focused on its Berlin investment
properties. This is part of Orco's strategy to focus on its core business
in the four cities of Berlin, Prague, Warsaw and Budapest with the aim to
simplify the group's structure. The contemplated sales of our assets in
Russia are the next steps of this strategy,' stated Jean-Francois Ott. 'We
would welcome MSREI as our largest shareholder. MSREI's wealth of
institutional knowledge and experience coupled with Orco's expertise
throughout Central and Eastern Europe will provide a long term benefit to
Orco's shareholders, bondholders and stakeholders.'
For more information please, visit www.orcogroup.com
Contact:
Kirchhoff Consult AG
Sebastian Bucher
Herrengraben 1
D-20459 Hamburg
T +49 40 60 91 86 18
F +49 40 60 91 86 60
sebastian.bucher(at)kirchhoff.de
End of Corporate News
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18.08.2011 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: ORCO Germany S.A.
40, Parc d'Activités Capellen
8308 Capellen
Grand Duchy of Luxembourg
Phone: +49 (0)30 390 93 116
Fax: +49 (0)30 390 93 199
E-mail: patricia.jaenisch(at)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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136257 18.08.2011
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orco-property-group-to-increase-control-over-orco-germany
Unternehmensinformation / Kurzprofil:
Datum: 18.08.2011 - 18:15 Uhr
Sprache: Deutsch
News-ID 48010
Anzahl Zeichen: 3201
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Kategorie:
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