LONDON (Alliance News) - Plaza Centers NV Thursday said it has agreed to sell its 31,500 square metre site in Targu Mures, Romania to an unnamed third party developer for EUR3.5 million, consistent with the asset's last reported book value.
The sale is part of the Central and Eastern Europe-focused shopping and entertainment centres company's ongoing strategy both to deleverage and to dispose of non-core assets and focus on the core yielding assets across its portfolio, Plaza Centers said.
Last week, Plaza Centers said its losses widened in the first half of the year, hit by higher property impairment charges and finance costs.
Shares in Plaza Centers were untraded on Thursday, quoted at 8.625 pence.
By Anthony Tshibangu; anthonytshibangu@alliancenews.com; @AnthonyAllNews
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Plaza (PLAZ)