LONDON (Alliance News) - Georgia Healthcare Group PLC on Monday said its subsidiary, GEPHA, agreed to sell the land for USD2 million in cash.
The healthcare services and medical insurance provider said the land was previously used by m2, a commercial real estate business and a wholly owned subsidiary of Georgia Capital PLC.
Georgia Capital holds a 57% interest in Georgia Healthcare.
The contract is on a commercial basis and on standard arms-length terms, the company noted.
Georgia Healthcare shares were trading 6.4% higher on Monday at 266.00 pence each, while Georgia Capital shares were down 0.6% at 961.00p.