GWI GmbH, a subsidiary of Erbud S.A., informed on 25 April 2016 about the sale of the West Park development project in Germany to the company Düsseldorfer Eg. The transaction is worth € 29.6 million, of which 51% is attributable to GWI GmbH.
Under the agreement, GWI GmbH sells the West Park residential building with 141 apartments, kindergarten and 144 parking spaces. The provisional price is over EUR 29,6m. The final price depends on final measurement and will be determined on the date of final acceptance. The payment will be efected within 10 calendar days after the commissioning.
The final acceptance inspection is expected not late than on 31 January 2017.
GWI Bauunternehmung GmbH, a subsidiary of Erbud S.A., owns 51 percent of the equity share capital in PDI Düsseldorf Malmedyerstraße Ost GmbH and PDI Düsseldorf Malmedyerstraße West GmbH, companies which are the sellers of the project.
News