TIDMNEPI
RNS Number : 4139C
New Europe Property Investments PLC
28 June 2016
NEW EUROPE PROPERTY INVESTMENTS PLC
Incorporated and registered in the Isle of Man with registered
number 001211V
Registered as an external company with limited liability under
the laws of South Africa, registration number 2009/000025/10
AIM share code: NEPI JSE share code: NEP BVB share code: NEP
ISIN: IM00B23XCH02
("NEPI" or "the Group")
UPDATE ON ACQUISITIONS AND DEVELOPMENTS
ACQUISITION OF SHOPPING CITY SIBIU (ROMANIA)
NEPI has concluded an agreement to acquire Shopping City Sibiu,
in Romania, from the Argo Group. The shopping centre currently has
a Gross Lettable Area ("GLA") of 79,100m(2) . It opened for trading
in November 2006 with 41,100m(2) of GLA that comprised an Auchan
hypermarket and adjacent gallery, and a DIY store, Leroy Merlin.
Shopping City Sibiu was subsequently extended by adding a Carrefour
hypermarket, fashion and sport brands, a large furniture store and
white goods retailers.
Sibiu has a population of approximately 170,000 and is the
capital of Sibiu county which has over 400,200 inhabitants. The
city is an important cultural centre and also benefits from its
modern infrastructure that includes three rail stations and an
international airport with direct connections to many European
countries and various national destinations.
Shopping City Sibiu is the first, and only, modern retail centre
in Sibiu, and the largest retail park in Romania, with a diverse
tenant mix, dominating retail in the region. It is located on the
main Brasov artery, and is an eight-minute drive from the city
centre.
The mall is anchored by two hypermarkets, Carrefour and Auchan,
and includes numerous international brands, such as Adidas, Altex,
Benvenuti, BSB, C&A, CCC, Coccodrillo, Decathlon, Deichmann,
Diverta, dm, Douglas, Flanco, H&M, Hervis, Humanic, Kendra,
Kenvelo, KFC, Lee Cooper, Marionnaud, New Yorker, Noriel, Orsay,
Pepco, Salamander, Takko, Yves Rocher, and a wide selection of
furniture and DIY stores including Jysk, Lems, Leroy Merlin,
Mobexpert, Nobila Casa and Rovere Mobili.
The transaction value was EUR 100 million. The acquisition was
completed on 24 June 2016. The commercial effective date is 31
March 2016.
ACQUISITION OF MINORITY INTEREST IN MEGA MALL (ROMANIA)
The Group has concluded an agreement with the Austrian
development group Real4You to purchase its 30% interest in Mega
Mall, Bucharest. NEPI currently owns 70% of Mega Mall.
Mega Mall has 75,500m(2) GLA and is the Group's largest
development to date. It commenced trading in May 2015 and dominates
retail in the heavily-populated, eastern Bucharest, with a
catchment area of 600,000 within a 15-minute drive.
The completion of the acquisition is pending the approval of the
Competition Council.
ACQUISITION OF LAND FOR DEVELOPMENT IN NOVI SAD (SERBIA)
NEPI has acquired a land plot of 3.3ha in Novi Sad, Serbia's
second largest city and capital of Vojvodina, which is located on
the Danube. The city has a population of 250,000, and a
metropolitan area of 340,000 inhabitants. Novi Sad is located 70km
from the capital Belgrade, and connected by international motorways
to Belgrade, Budapest, Skopje and Zagreb.
Novi Sad is the administrative and economic centre of Vojvodina,
Serbia's largest agricultural region. It is one of the country's
largest cultural centres, combining great historical heritage with
modern festivals, and is the country's second largest university
centre. Novi Sad is also home to one of Serbia's largest oil and
gas companies, Naftna Industrija Srbije, as well as a growing
industrial zone, where 18,000m(2) of production facilities have
been long-term leased to the Delphi Packard group in December
2015.
The site has a prime location, with excellent visibility from
two large boulevards, with exposure frontage of over 300 linear
metres. Its location offers access to local infrastructure either
through very good traffic connections or public transportation on
the city bus lines, with three bus stops near the plot.
The Group plans to develop a shopping mall of approximately
50,000m(2) of GLA, including international fashion brands and
diverse entertainment facilities, depending on permitting. NEPI has
initiated permitting efforts and targets opening in 2018. Given the
shortage of modern retail offering in Novi Sad, the Group is
confident that the envisioned development will be the dominant
scheme in the city.
The transactions presented above are not categorisable in terms
of the JSE Listings Requirements and are not classified as
substantial transactions under the AIM Rules for Companies.
This announcement is for information purposes only.
28 June 2016
For further information please contact:
New Europe Property Investments
plc
Alex Morar +40 21 232 1398
AIM Nominated Advisor and Broker
Smith & Williamson Corporate
Finance Limited
Azhic Basirov/Katy Birkin +44 20 7131 4000
JSE sponsor
Java Capital +27 11 722 3050
BVB advisor
SSIF Intercapital Invest SA
Razvan Pasol +40 21 222 8731
This information is provided by RNS
The company news service from the London Stock Exchange
END
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June 28, 2016 02:00 ET (06:00 GMT)
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