JSE-listed Growthpoint has concluded an agreement with Aim-listed Globalworth Real Estate Investments to subscribe for an initial 26.88% stake in Globalworth, Romania’s leading office investor and developer, for a total consideration of €186.4-million.
Globalworth has agreed to issue Growthpoint 23.3-million subscription shares and one-million fully paid-up fee shares, giving Growthpoint an initial stake of 24.3-million Globalworth shares.
A further one-million fully paid-up fee shares will be issued to Growthpoint by December 31, 2017, thereby increasing Growthpoint’s stake in the enlarged share capital of Globalworth to 25.3-million Globalworth shares.