CTT SELL BUILDING OF RUA DA PALMA FOR €10.3M

CTT SELL BUILDING OF RUA DA PALMA FOR €10.3M

 

As the portuguese post office company reported to CMVM, this sale follows "in line with its policy of disposing of non-strategic assets when the necessary market conditions are met".

The overall sale price of the property is of €10.3 million, which is equivalent to a pre-tax accounting gain of around €8.5 million, with a tax impact of €1.1 million.

The announcement was made on May 15, and the public deed of definitive sale must take place within a maximum period of 6 months as of this date.

In its restructuring plan, presented in December, CTT advanced that they intend to dispose of about 30 properties, with a book value of €6 million, in an estimated amount of €12 to €13 million, according to the newspaper Negócios. 

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