CPI PROPERTY GROUP
ORCO Germany S.A.: Acquisition of Sunčani Hvar receivables
DGAP-News: ORCO Germany S.A. / Key word(s): Acquisition 02.04.2014 / 09:27 --------------------------------------------------------------------- ORCO GERMANY - Acquisition of Sunčani Hvar receivables ORCO Germany S.A. ("OG") announces that it is acquiring receivables of two bank creditors towards Sunčani Hvar d.d. ("SHH"). Completion of this acquisition is expected in the coming days. The OG total investment of EUR 24 million has been achieved with a material discount to the nominal value. All these receivables are secured by pledges on SHH assets, mainly on Amfora, Adriana and Riva hotels. OG has the objective to participate to the financing restructuring of SHH. With pledges on some of the best performing assets of SHH, OG will be a major partner to restructure the hotel activities would the intended financing restructuring not be successful. For more information, please contact: Contact: Kirchhoff Consult AG Sebastian Bucher Herrengraben 1 D-20459 Hamburg T +49 40 60 91 86 18 F +49 40 60 91 86 60 sebastian.bucher@kirchhoff.de End of Corporate News --------------------------------------------------------------------- 02.04.2014 Dissemination of a Corporate News, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: ORCO Germany S.A. 40, rue de la Vallée L-2661 Luxembourg Grand Duchy of Luxembourg Phone: +49 (0)30 390 93 116 Fax: +49 (0)30 390 93 199 E-mail: patricia.jaenisch@orco-gsg.de Internet: www.orcogermany.de ISIN: LU0251710041 WKN: A0JL4D Listed: Regulierter Markt in Frankfurt (General Standard); Freiverkehr in Düsseldorf, Stuttgart End of News DGAP News-Service --------------------------------------------------------------------- 261112 02.04.2014
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