Panova sells four retail parks

Under the agreements, Torwell Investment is to take over 100 pct shares in the spvs, which own the parks. These include Panova Invest Sosnowiec, Panowa Invest Kamienna Góra, Panowa Invest Krosno and Panowa Invest 3.

The exact price is to be determined based on the agreed value of the property adjusted for the balance of other assets and liabilities of the companies. The final contract is to be concluded by June 30th, 2019 on the condition of the positive outcome of due diligence and acceptance of the transactions by the banks financing the special purpose vehicles.