Dommo Grupa, a company owned by the real estate investment company INVL Baltic Real Estate, on 28th September 2018 signed a preliminary agreement regarding the sale of 20.6 hectares of land plots in Latvia.
In order for the transaction to be completed, the buyer of the land plots must by the end of 2018 sign a lease agreement for the properties planned to be built on the land plots, and also make an advance payment and perform other actions envisaged in the agreement. If the parties fulfil all the stipulated conditions, the transaction could be completed by 1st July 2019.
Given that the preliminary agreement may cease to have effect due to circumstances beyond the control of INVL Baltic Real Estate, and that there are no guarantees that the transaction will be completed, its amount is not being disclosed. If the transaction was completed, it would have a positive impact on equity of INVL Baltic Real Estate (considering the asset valuation published together with the company's most recent financial results.)
The total land holdings of the Dommo Grupa manufacturing, warehouse and office complexare 58.21 hectares.
INVL Baltic Real Estate‘s consolidated equity at the end of June this year was EUR 34.06 million. Its equity per share was EUR 2.59 and compared to mid-2017, also taking into account dividends that were paid out, increased 12.4 per cent. As at 30 June 2018, the value of INVL Baltic Real Estate‘s investment assets was EUR 57.5 million.
