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(Alliance News) - Plaza Centers NV said Thursday it has signed a definitive agreement for the sale of 37,000 square metres of land in Miercurea Ciuc in Romania for EUR1.6 million.
Of this consideration, EUR360,000 has already been received as advance payments.
Plaza Centers first signed a pre-agreement for the sale in October. However, in April, the sale was delayed for three months, and Plaza Centers received a non-refundable payment of EUR150,000 at the time, as well as a further EUR100,000 in mid-April.
The real estate investor will use the current consideration to partly redeem the balance of unpaid interest of its series A and series B bonds to its bondholders.
Shares in Plaza Centers were untraded on Thursday, last quoted at 27.50 pence in London.