Danish property company TK Development has taken full control of its activities in Central and Eastern Europe by acquiring the 10% it did not already own in Euro Mall Holdings. TK Development paid DKK 96mln (EUR 13mln) to the Investment Fund for Central and Eastern Europe for the stake in Euro Mall.
Danish property company TK Development has taken full control of its activities in Central and Eastern Europe by acquiring the 10% it did not already own in Euro Mall Holdings. TK Development paid DKK 96mln (EUR 13mln) to the Investment Fund for Central and Eastern Europe for the stake in Euro Mall.
The Danish company's activities in Poland, Czech Republic and Slovakia since the summer of 2007 on a 90/10 basis with the fund through Euro Mall.
TK Development said it had chosen to exercise the option to buy the shares in light of 'its continued positive view of the market potential, underpinned by the portfolio of projects expected to contribute with respectable earnings during the next few years.' The company said on Tuesday that it is sticking to its forecast of DKK 300mln (EUR 40mln) profit after tax for the 2008/9 financial year.
