PRESS RELEASE / August 02, 2012
Ruric considering exercising first-right-of-refusal on Fontanka 57
Ruric is considering exercising its first-right-of-refusal on Fontanka 57 from Scorpio. To secure a fast and efficient completion of the building to a letable state, full financing is of great importance. Larger bondholders such as Alecta, Proventus who earlier blocked Fontanka 57 deal, have presently contacted Ruric with the proposal to allow additional borrowings to partially finance the first-right-of-refusal. However Ruric believes that the suggested level of borrowings is not enough and therefore requested from the bondholders the approval to raise bigger amount which may allow financing both the acquisition and development of Fontanka 57.
The first-right-of-refusal from Scorpio expires August 12th.
For additional information
Denis Martyushev, The member of the board
Denis Savinkin, CFO
Ruric's business strategy is to manage real estate in the center of St Petersburg. In addition Ruric shall also acquire real estate and implement value creating additional investments at attractive conditions. Through professional management and good tenant relations spaces of high class are offered to tenants looking for possible spaces in central locations willing to pay for it. Ruric offers primarily office- and retail premises.
Ruric's Certified Advisor at First North is Erik Penser Bankaktiebolag.
Ruric considering exercising first-right-of-refusal
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Source: Russian Real Estate Investment Company via Thomson Reuters ONEHUG#1631566