onae Capital SGPS, SA informs about sale of real estate assets

 


 

 

SONAE CAPITAL SGPS, SA
Lugar do Espido, Via Norte, Maia
Share Capital: 250,000,000 Euro
Maia Commercial Registry and Fiscal Number 508 276 756
Sociedade aberta

 

ANNOUNCEMENT OF MATERIAL EVENT

Sonae Capital, SGPS, SA informs about the disposal of several retail real estate assets, with a total area of circa 2,000 m2.

The total consideration of this transaction, already received, amounts to 5 million euro, through the sale of assets directly owned by Spinveste – Gestão Imobiliária, SGII, SA and the sale of the shares representing the whole of the share capital of Azulino – Imobiliária, SA, owner of the majority of the assets sold. This transaction will have an estimated positive impact of circa 0.9 million euro in the 2008 consolidated results of Sonae Capital.

This transaction is part of the strategy of Sonae Capital of disposing of real estate assets that do not fit the purpose of future development of Touristic or Residential real estate projects.


The Representative for Capital Market Relations,

Maia, 4 December 2008