LONDON (Alliance News) - Raven Property Group Ltd said Monday one of its subsidiaries entered into two agreements to acquire an extension to the Sever logistics park in Moscow for USD36.2 million.
The company added that the site was acquired by the unnamed subsidiary in 2017.
The agreements provide for the subsidiary of the company to acquire a warehouse building, adjacent to the existing site, from two Russian-incorporated companies.
The total consideration for the acquisition includes RUB2.5 billion, USD36.2 million, to be satisfied in cash plus an additional USD2.4 million deferred for between six to eight months.
Raven shares were trading down 1.0% at 44.00 pence each.
