Homburg Invest Inc.
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Publicatie datum
15 feb 2011 - 16:20
Statutaire naam
Homburg Invest Inc.
Titel
HOMBURG INVEST ANNOUNCES SALE AND PURCHASE OF JOINT VENTURE INTERESTS IN THE UNITED STATES
Bericht
HALIFAX, Nova Scotia. February 15, 2011 – (TSX: HII.A, HII.B) (NYSE Euronext Amsterdam: HII) - Richard Homburg, Chairman and Chief Executive Officer of Homburg Invest Inc. (“Homburg Invest” or the “Company”) announced today that, pursuant to the exercise of certain “buy-sell” provisions in certain joint venture agreements with Cedar Shopping Centers, Inc. (NYSE: CDR) (“Cedar”), the Company will sell its 80% interest in one of the nine properties owned by the Homburg/Cedar joint ventures (Homburg 80%-Cedar 20%) to Cedar. Homburg Invest will also purchase Cedar’s 20% interest in the remaining eight joint venture properties. The transactions will facilitate Homburg Invest’s ability to fully implement its strategy in the US.
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