CPT.L Share News (CPT)

LONDON (Dow Jones)--Carpathian PLC (CPT.LN) an investor and developer of retail property in Central and Eastern Europe, said Tuesday that two potential sale transactions are currently being explored for its Blue Knight Portfolio in Poland and its Promenada asset in Warsaw. MAIN FACTS: -Carpathian's "Blue Knight Portfolio" of provincial shopping centers across Poland is under offer for sale. -The buyer's due diligence process is advancing. -Meanwhile, following the receipt of a number of offers through a competitive bid process for the prime shopping centre asset of Promenada, in Warsaw, one party has been selected as a potential buyer. -An extensive due diligence process is now due to commence. -The due diligence and contract negotiation periods within the Polish market can typically take several months before any conclusion is reached. -The aggregate prices currently offered for the above assets are close to the 2009 year end valuations. -In the event that these particular negotiations fail to successfully complete, it is Carpathian's intention to engage with other investors active within the Polish market to arrange sales on similar terms. -Meanwhile, trading performance of the portfolio as a whole continues in line with expectations. -Exceptions to this are Macromall (Brasov, Romania) and Antana Business Park (Budapest, Hungary), which continue to struggle with low occupancy levels. -Discussions continue with investors showing mixed interest in other assets within the Carpathian portfolio. -Shares at 0717 GMT up 0.2 pence, or 1.3%, at 16.0 pence. By Iain Packham, Dow Jones Newswires; 44-20-7842-9269; iain.packham@dowjones.com (END) Dow Jones Newswires July 27, 2010 03:19 ET (07:19 GMT)