Announcement for the Acquisition of LOV
LAMDA DEVELOPMENT S.A. (hereinafter the "Company") announces that it has signed an agreement with "IRERE PROPERTY INVESTMENTS LUXEMBOURG", formerly under the name "HSBC PROPERTY INVESTMENTS LUXEMBURG SARL" (hereinafter "IRERE"), for the transfer from IRERE and acquisition by the Company of 4,402,368 shares issued by the company "LAMDA OLYMPIA VILLAGE Societe Anonyme Property and Development Company" (hereinafter "LOV"), which corresponds to 50% of the LOV share capital.
The completion of the transfer is conditional upon the approval of the Banking Transactions Approval Committee and an extension of the LOV loan agreement for at least three more years having been agreed.
Upon completion of the transaction, the Company will own the 100% of LOV share capital, which owns the shopping center "The Mall Athens". It is also noted that the Gross Asset Value of "The Mall Athens" amounts to € 381.2 m.