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LONDON (Alliance News) - Emerging markets property developer Plaza Centers NV on Thursday said it has completed the sale of its holding in the Liberec Plaza mall in the Czech Republic for EUR9.5 million.
Plaza said EUR8.5 million of the proceeds will be paid to its PCE subsidiary to repay the bank loan taken out to acquire the project.
Of the balance, Plaza said 75% will be returned to bondholders by the end of June.
Plaza Centers shares were untraded on Thursday, having last traded at 1.35 pence.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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