21 December 2007

Dawnay Day Carpathian buys six supermarkets in Croatia for EUR 53.7 million

Retail property investment company Dawnay Day Carpathian PLC has acquired six supermarkets in Croatia with a total leasable area of over 32,000 square metres for a total price of EUR 53.7 million.

The company will be acquiring four Croatian special purpose vehicles that own the stores and will rent them to Croatian retailer Konzum, a unit of food manufacturing company Agrokor, after the acquisition.

Commenting on the acquisition, Rupert Cottrell, Chairman of Dawnay Day Carpathian PLC said “This acquisition represents the sixth transaction since the £100m secondary fund raising completed in May 2007 and the Company’s first acquisition in Croatia, one of our target countries. This demonstrates the continued market expansion of DDC across Central and Eastern Europe, as we continue to build a diversified portfolio of quality assets.”

Illyria Capital originated and advised on this unique capital restructuring for Agrokor, sourced Dawnay Day Carpathian as the investor and provided advice and assistance with deal negotiations for the transaction between the two parties through to deal completion.