Echo Investment sells EPP shares for €49 mln

WSE-listed real estate group Echo Investment sold 40 million shares of its subsidiary Echo Polska Properties for €49 million. EPP is minority-owned by Echo, the majority (75 percent) is controlled by South African REIT Redefine, which allowed for the transaction to go through as it had the lock up rights to the shares. Echo Polska Properties, controls all Polish assets of Echo Investment.

In September this year, EPP will be floated on the Johannesburg Stock Exchange.

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