Wednesday, June 13, 2007

Developer Orco expands to German property market

German subsidary Orco Group Property is finishing acquisition of berlin GSG (the biggest provider of commercial properties). This is shared acquisition together with Morgan Stanley (MS). The price is around 400 million EUR. Morgan Stanley will receive 29% share in Orco Germany and Orco will receive 50% share in SGS from MS plus 35 million EUR. Major shareholder in Orco Germany is still Orco company but only with 57% stake. 14% is public traded.

I am quite bullish with ORCO (BAAORCO) and my target price for long entry is at CZK3300.


0 Responses to "Developer Orco expands to German property market"