Vordere Acquires Six German Properties For EUR59.3 Million (ALLISS)

(Alliance News) - Vordere PLC said Wednesday it has signed six binding agreements to acquire six ...

Alliance News 12 June, 2019 | 6:32PM
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(Alliance News) - Vordere PLC said Wednesday it has signed six binding agreements to acquire six properties in Germany for EUR59.3 million.

According to Vordere, Jones Lang LaSalle Inc - better known as JLL - has valued the properties at an estimated gross development value of EUR492.3 million, with an estimated gross development profit of EUR53.0 million.

Vordere said it will pay for the properties through the issue of new shares in the company.

The company will update shareholders "as the matter progresses".

Shares in Vordere closed up 10% Wednesday at 8.80 pence each.

By Paul McGowan; paulmcgowan@alliancenews.com

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Securities Mentioned in Article
Security Name Price Change (%) Morningstar Rating
Vordere PLC 10.00 GBX 8.11 -
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