Warimpex sells eight hotels
(World News Austria)

P R E S S R E L E A S E Warimpex sells eight hotels Vienna/Warsaw, 23 February 2017 - Warimpex Finanz- und Beteiligungs-Aktiengesellschaft (Warimpex) announces the partial sale of its hotel portfolio to the Thai investor U City Public Company Limited (U City) The transaction includes eight hotel participations - two of which are partially (50 per cent) owned by UBM Development AG (UBM) - which comprise approximately 50 percent of Warimpex`s total real estate assets and which have a property value of approximately EUR 180 million (excluding the stakes of UBM in that portfolio). This amount also corresponds to the overall financial consideration, consisting of a purchase price for the shares...