Ruric has been granted extension until December 31st 2014 for the Moika Glinky project
(Thomson Reuters ONE) -
The Minister of Defense of the Russian Federation has signed an order to extend
the term of the investment agreement for an additional three years until end of
2014.
Ruric has received a letter confirming this from the Russian Military Academy of
Transportation and Logistics (MATL), the new third party in the tri-party
investment agreement and recipient of the order. MATL confirms the order and is
initiating the process of implementing the amendment that is yet to be signed.
This is a big step towards realizing the potential value in the project that has
been labeled "the jewel in the crown" in Ruric's asset portfolio. The extension
will give Ruric and any partner time to plan and build the visualized concept.
Craig Anderson, Ruric's CEO commented: "This proves that Ruric has an on-going
working relationship with the Ministry of Defense and the Military Academy of
Russia which is continually developing. The process has taken some time but we
are delighted with this decision and look forward to continue working with the
realization of this unique project in the cultural heart of St Petersburg. I
would also like to thank all of the people involved who have done a great job
during this process."
Russian Real Estate Investment Company AB (publ)
For more information, please contact:
Craig Anderson, CEO
Phone +7 812 703 35 50 (St. Petersburg)
Phone +46 8 509 00 100 (Stockholm)
email craig(at)ruric.com
web www.ruric.com
ABOUT RURIC
Ruric's business strategy is to manage real estate in the centre of St
Petersburg. In addition Ruric shall also acquire real estate and implement value
creating additional investments at attractive conditions. Through professional
management and good tenant relations spaces of high class are offered to tenants
looking for possible spaces in central locations willing to pay for it. Ruric
offers primarily office- and retail premises.
Ruric's Certified Advisor on First North is Erik Penser Bankaktiebolag
Press Release:
http://hugin.info/141656/R/1479172/414883.pdf
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(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Russian Real Estate Investment Company via Thomson Reuters ONE
[HUG#1479172]
Unternehmensinformation / Kurzprofil:
Datum: 12.01.2011 - 12:12 Uhr
Sprache: Deutsch
News-ID 50394
Anzahl Zeichen: 3012
contact information:
Town:
Stockholm
Kategorie:
Business News
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Die Pressemitteilung mit dem Titel:
"Ruric has been granted extension until December 31st 2014 for the Moika Glinky project"
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Russian Real Estate Investment Company (Nachricht senden)
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