Panova to sell four retail parks

Warsaw Stock Exchange-listed builder Panova plans to sell its retail parks in Kamienna Góra, Krosno, Myszków and Sosnowiec. The company has signed preliminary agreements for the sale of special-purpose vehicles that own those properties to Torwell Investment. The value of the planned transaction is yet to be agreed upon by the two parties. The proper agreement is to be signed by the end of the first half of this year provided that the due diligence process is positively concluded by that time and the deal gets approved by the banks financing the special-purpose vehicles in question. Panova’s portfolio currently comprises 13 commercial assets.

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