Market announcement
Arco Vara AS
LEI code
097900BHCB0000066171
Size of the entity
Small group
Economic activities
Professional, Scientific and Technical Activities
Country of registered office
Estonia
General information
Categories
Other price sensitive information
Unique data record identifier
6520
Submission date and time
28.02.2018 12:39:53
Content of announcement in Estonian
Title
Arco Vara AS müüs oma kinnisvarafondi Bulgaarias
Message
27.02.2018 müüs Arco Vara AS oma 100%-lise osaluse kinnisvarafondis Arco Real
Estate Fund REIT (edaspidi: Arco REIT). Arco REIT on Arco Vara AS-i 100%-line
tütarfirma, mis on noteeritud Sofia börsil. Arco REIT loodi 2015. aastal
eesmärgiga kaasata kapitali kontserni Bulgaaria arendustesse. Kuna kontserni
Bulgaaria arenduste jaoks suudeti raha kaasata 2018. aasta jaanuaris toimunud
Arco Vara AS-i aktsiaemissiooni kaudu ja Arco REIT-ile ei paistnud nähtavas
tulevikus selget rakendust, siis otsustas juhatus tütarfirma müüa. Osalus müüdi
väikese kasumiga 333 tuhande euro eest. Tehing ei oma olulist mõju Arco Vara
AS-i majandustegevusele ja finantsnäitajatele.
Evelin Kanter
Juriidilise osakonna juht
Arco Vara AS
Tel: +372 614 4594
[email protected]
Content of announcement in English
Title
Arco Vara AS sold its real estate investment fund in Bulgaria
Message
On 27 February 2018, Arco Vara AS sold its 100% holding in real estate
investment fund Arco Real Estate Fund REIT (hereinafter Arco REIT). Arco REIT
is Arco Vara AS’ 100% subsidiary and listed on Sofia Stock Exchange. Arco REIT
was established in 2015 with the purpose to raise capital for Arco Vara group’s
Bulgarian developments. As the group succeeded to raise money for Bulgarian
developments through Arco Vara AS’ share issue in January 2018 and there was no
clear purpose for Arco REIT in foreseeable future, the management decided to
sell the subsidiary. The holding was sold with a small profit for 333 thousand
euros. The transaction does not have a significant effect on Arco Vara AS'
operations and financial indicators.
Evelin Kanter
Head of Legal Department
Arco Vara AS
Tel: +372 614 4594
[email protected]