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RomReal RomReal today announces that it has divested its Bucharest office Villa, a non-core asset, for payment in cash. The sales price is in line with the most recent independent valuation of the property which is a component of the overall published NAV figure for RomReal.
The transaction reflects RomReal's strategy to divest non-core assets to strengthen its financial position even further.
Kay Thorkildsen, Executive Chairman of Westhouse Group, RomReal's operating subsidiary, says "I am pleased that we have realised this sale at a value which is in line with the most recent NAV assessment of the property. This is the second sale of a non-core asset we have finalised during this year and demonstrates the attractiveness of RomReal's land bank that we have buyers for our properties in the current market environment. We will continue with this effort, assuming that the right opportunities occur, to add to our cash position and strengthen our balance sheet even further."
For furher information on the above developments please consult the company web pages www.romreal.com and www.westhousegroup.ro, or contact
