LONDON (Alliance News) - Brack Capital Real Estate Investments NV on Monday said its subsidiary is buying a commercial property in North Rhine Westphalia, Germany for EUR9.1 million.
Brack Capital said the notarised acquisition agreement is between its subsidiary Brack Capital Properties NV and an unnamed third party, adding that this third party is not related to its subsidiary or the controlling shareholders.
Completion of the transaction is subject to the fulfillment of the conditions required relating to the transfer of the ownership rights including obtaining all the necessary approvals for the transaction and the removal of all the pledges from the property, Brack Capital added.
Shares in Brack Capital were flat at EUR0.830 on Monday.
By Hannah Boland; hannahboland@alliancenews.com; @Hannaheboland
Copyright 2016 Alliance News Limited. All Rights Reserved.