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LONDON (Alliance News) - Globalworth Real Estate Investments Ltd said Monday it has increased its stake in its Polish subsidiary, Globalworth Poland, to 78%.
Globalworth Real Estate acquired 16.5 million shares in Globalworth Poland for a total of EUR26.4 million from two pension funds managed by Dutch insurance and asset management company Nationale-Nederlanden.
Globalworth Real Estate said the transaction will be funded from its existing cash resources.
Shares in Globalworth Real Estate closed up 4.0% Monday at EUR8.55 each.