SCIENS INTERNATIONAL INVESTMENTS AND HOLDINGS SA
IMPORTANT CORPORATE TRANSACTION
Sciens International Investments & Holdings S.A., announces the transfer of the total of the holding position it currently possesses in the ASE listed company Piraeus REIT (37,08% of its share capital or 20.353.776 shares), for a total amount of 42,336 millions of Euros or 2,08 Euros per share, to ASE listed company Pasal Development S.A.
Part of the sale proceeds are expected to reduce Sciens International Investments & Holdings S.A. long-term borrowing levels, while the rest is expected to support new investment opportunities that have been created under current economic circumstances in the international markets.
The present agreement has been made in the context of Sciens International Investments & Holdings S.A. strategy, which is focused on continuous search of maximization of returns on capital employed, taking advantage of new opportunities in the wider field of Alternative Asset Management.
Part of the sale proceeds are expected to reduce Sciens International Investments & Holdings S.A. long-term borrowing levels, while the rest is expected to support new investment opportunities that have been created under current economic circumstances in the international markets.
The present agreement has been made in the context of Sciens International Investments & Holdings S.A. strategy, which is focused on continuous search of maximization of returns on capital employed, taking advantage of new opportunities in the wider field of Alternative Asset Management.