Vordere acquires give Brazilian properties for £25.9m
StockMarketWire.com - Real estate developer and investor Vordere said it had agreed to acquire five properties in Brazil for a combined £25.9m in shares.
Four of the properties were located in the state of Rio Grande do Norte, with three just to the north of Natal and one in a fast-growing suburb just to the south.
The fifth property was a large residential development property in the state of Pernambuco.
The Acquisition follows the conclusion of negotiations that started in May 2018 and which have resulted in an acquisition in accordance with the Company's published investment strategy.
In consideration for the acquisition, the company said it had allotted 129.3m new shares at 20p each.
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