VGP concludes agreement in principle with a new capital partner to sell an 80% interest in another 6 VGP Parks

VGP has concluded an agreement for the potential sale of an 80% equity interest in VGP CZ II a.s., to a new capital partner for 6 VGP Parks all located in the main regional cities of the Czech Republic.

The transaction value is in excess of EUR 140 million, which includes some future development pipeline. The sale is subject to certain conditions and due diligence.

VGP will continue to assume the operational management of these VGP Parks thereby ensuring operational continuity.

Closing of the transaction is anticipated during the third Quarter of 2011.

Press Release_New capital partner_EN (pdf)

Press Release_New capital partner_NED (pdf)