Plaza Centers N.V. is selling off the shares in its SPV that holds the Suwałki Plaza shopping and entertainment center in Poland to an investment fund, which it is not naming at the moment. The agreement reflects a value for the 20,000 sqm mall of €42.3 million. The final closing and settlement is expected to be concluded by the end of January 2017. Under the terms of the deal that’s been arranged, Plaza will keep around €16.6m net cash after it pays off the bank loan of around €26.6m. Of these net proceeds, 75 percent will be distributed to bond holders by March as agreed in the company’s restructuring plan. The mall is located in northeast Poland near the Lithuanian border.
