Plaza Center sells Koregaon Park Plaza in India for €35 mln

Plaza Centers has signed a deal to sell Koregaon Park Plaza in Pune, India, for around €35 million, the company announced. The net income from the transaction stands at approximately €7.2 million. "The disposal supports the Company’s ongoing strategy to deleverage the business and to reduce Indian activity in order to focus operations and to maximize income generation and resources on our core markets in Central and Eastern Europe," said Ran Shtarkman, CEO of Plaza Centers. The Plaza Centers Group is an emerging markets developer of shopping and entertainment centers, focusing on developing new centers and redeveloping existing centers, in both capital cities and important regional centers. It has been listed on the WSE since 2007.