Raven Property Group - Accretive acquisition agreed
Raven Property Group has conditionally agreed terms on the acquisition of a Grade A warehouse in Moscow. The all-cash acquisition is expected to complete by late September and should have a positive effect on earnings and cash flow. Management hopes to announce further accretive acquisitions during the year. We will review our estimates with the interim results, due for publication on 28 August 2018. Despite economic sanctions, the Russian economy has continued to grow and real estate agents forecast that warehouse demand in the key Moscow region will continue to outstrip supply.Raven Property Group is a property investment group focusing on commercial real estate in Russia. Co. has three operating segments: Property Investment, which acquires, develops and leases commercial property in Russia; Roslogistics, which is engaged in the provision of warehousing, transport, customs brokerage and related services in Russia; and Raven Mount, which sells residential property in the U.K.
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