Agrar Invest Romania AG
Agrar Invest Romania AG: Sale of subsidiary
Agrar Invest Romania AG / Key word(s): Strategic Company Decision Press release, 16 January 2015 Agrar Invest Romania AG, Traunreut Sale of Zarand Estate S.R.L. Back in the spring of 2012, Zarand Estate S.R.L., a subsidiary of Agrar Invest Romania AG, purchased 601 hectares of land in the Foeni region of Romania. Since then, this land has been leased out. Agrar Invest Romania AG has now taken advantage of the favourable trend in the price of agricultural land in Romania and sold Zarand Estate S.R.L. and its 601 hectares of land at a profit at the end of 2014. The parcels of land sold lie outside the core area in which Agrar Invest Romania AG is mainly active. The sale price per hectare is more than 50% more than the values carried on the balance sheet. Managing Director Theo Häni comments: “This transaction proves that substantial hidden reserves are held in Agrar Invest Romania AG’s portfolio of agricultural land.” Agrar Invest Romania AG will invest the proceeds from the sale of Zarand Estate S.R.L. in the construction of a logistics centre which will not only include a silo for storing organic grain, but also cleaning, drying and disinfestation facilities. This will help to fill a gap in Romania, as the country does not currently have sufficient storage space for organic cereals, nor adequate cleaning, drying and disinfestation facilities. Because buyers of organic cereals want to be able to trace the goods back to the producer, the storage concept for organic grain is significantly different from conventional installations. In addition, the consolidation of plots of land in the Mures Valley will continue in the coming months, which will also have a positive effect on the value of this land. Traunreut, 16 January 2015 The Executive Board 2015-01-16 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
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