Nieuwe Steen Investments owns 149 income-producing properties in Western Europe.
Habas HZ Investments Ltd. (TASE: HABS) invested €11.5 million in a private placement by Dutch REIT Nieuwe Steen Investments NV (NSI) (AEX:NISTI) last Thursday. NSI raised €55 million, the maximum amount set for the placement in an offering of 3.9 million shares, 10% of its share capital before the placement.
Habas indirectly owns 20.83% of NSI through Habas Tulip, in which Habas owns 74%. NSI owns 149 income-producing properties in Western Europe. The size of the holding did not change as a result of the participation in the placement.
Habas chairman Herzl Habas said, "We are pleased at the confidence shown in NSI, as seen in the high response to the private placement. This is a great success, which was reflected by the over-subscription of the placement."
In a separate development, Habas sold two properties on Yehuda Halevi Street in central Tel Aviv for NIS 25 million.
Published by Globes [online], Israel business news - www.globes-online.com - on June 6, 2010
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