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Ascencio divests among its Belgian portfolio

Written by Customer Service on . Posted in Mergers And Acquisitions.

 

Ascencio is announcing today, 11 January 2024, the sale of its shopping complex in Jemappes (Belgium). A private investor has acquired this property for a net amount of €8.55 million, consistent with the fair value determined by the independent valuer.

The site covers an area of around 10,000 m², with Sportsdirect.com, Dreamland and Auto 5 being the main tenants.

This sale is part of the ongoing revaluation of the property portfolio.

The impact of this sale is estimated at – €0.01 per share on an annual basis on EPRA Earnings and at -0.7% on the Company’s EPRA LTV. The proceeds of this transaction will enable Ascencio to increase the cash available on its credit lines, manage its debt ratio and thus be in a position to consider investment opportunities.

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