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Kardan NV's GTC Real Estate Holding BV Completes Sale of 27.5% Stake in GTC


Friday, 22 Nov 2013 10:30am EST 

Kardan NV announced that its wholly-owned subsidiary GTC Real Estate Holding BV (“GTC RE”) has completed the indirect sale (i.e. through the sale of the entire issued share capital in its wholly-owned subsidiary Emerging Investments XIII B.V.) and transfer of the 27.75% of the ordinary share capital of the Central and Eastern European real estate company Globe Trade Centre S.A. to a wholly owned subsidiary of Lone Star Funds (“Lone Star”) for a consideration of EUR 160 million. 

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