July 17, 2017 / 6:02 AM / 10 days ago

BRIEF-Pandox acquires Hilton London Heathrow Airport for GBP 80 mln

1 Min Read

July 17 (Reuters) - PANDOX AB:

* PANDOX AB (PUBL) ACQUIRES HILTON LONDON HEATHROW AIRPORT FOR MGBP 80

* PURCHASE PRICE AMOUNTS TO MGBP 80, CORRESPONDING TO APPROXIMATELY MSEK 865, AND IS FINANCED BY EXISTING CREDIT FACILITIES

* Acquisition Is Expected to Be Completed During q3 2017

* FOR 2017 HOTEL IS EXPECTED TO CONTRIBUTE EQUIVALENT OF APPROXIMATELY MSEK 50 IN RENTAL INCOME AND MSEK 48 IN NET OPERATING INCOME, ON AN ANNUALISED BASIS

* ACQUISITION OF HOTEL PROPERTY IS MADE BY ACQUISITION OF SHARES IN A COMPANY OWNED BY AN INSTITUTIONAL INVESTOR WITH AN UNDERLYING PROPERTY VALUE OF MGBP 80 Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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