Recreate ASA announced that it had entered into an agreement with XG Eiendom AS ("Xania") regarding the establishment of a joint venture which shall own the group's properties Arkaden, Nedre Hjellegate 11, Henrik Ibsens gate 6 and Recreate's properties at Skien Brygge - all located in the Skien area - in addition to Xania's property at Johan Follestads vei 7. In addition, the parties intend that Kongensgate 20 and Hesselberggaten 4 shall be acquired at a later stage. The property contributed by Xania has a net cash position and the joint venture will therefore be financed to further develop the properties. The estimated loan to value ratio of the joint venture is 52% with approximately 86% of debt hedged at a fixed rate.
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5-day change | 1st Jan Change | ||
0.675 NOK | 0.00% | 0.00% | -64.10% |
Apr. 11 | Recreate ASA Enters Bankruptcy Proceedings | MT |
Mar. 01 | Recreate ASA Announces Change of CFO | CI |
1st Jan change | Capi. | |
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+7.77% | 21.27B | |
-17.72% | 9.77B | |
-29.35% | 9.57B | |
-1.76% | 8.81B | |
-4.57% | 6.73B | |
-11.95% | 5.42B | |
+48.05% | 4.83B | |
-7.22% | 2.3B |
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- Recreate Asa Enters into an Agreement with Xg Eiendom as Regarding the Establishment of A Joint Venture