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LONDON (Alliance News) - Plaza Centers NV said on Wednesday that following the sale of a special purpose vehicle on March 7, the buyer has paid an additional EUR630,000 this week.
The SPV, which holds a site in Bangalore, was owned by Elbit Plaza India Real Estate Holdings Ltd, a subsidiary 50% owned by Plaza Centers. The purchase of the 100% interest in the SPV was completed by an unnamed local investor.
The sale was priced at around EUR44.5 million. Including the additional EUR630,000 paid this week, the purchaser has in total paid EUR10.3 million of a EUR11.8 million sum that it was supposed to pay by the end of February.
The parties continue to discuss regarding the sorting of further payments.
Plaza Centers shares ended untraded Wednesday, but last closed at 25 pence per share.