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| Orco Germany closes acquisition of Viterra Development Orco Germany, as a subsidiary of Orco Property Group, one of the leading investor, developer and asset manager in the Central European real estate and hospitality market, announces the successful closing of the acquisition of Viterra Development, Essen. Total value of the transaction including the assumption of debt and the takeover of a number of properties is approximately EUR 75 million. With this acquisition Orco supplements its own portfolio through Viterra's substantial projects and real estates in the 5 major German cities as well as in Prague and in Warsaw. Potentially, the acquisition of Viterra Development will contribute EUR 60 to 80 million turnover per year from 2006 onwards and EUR 130 million in cash flow over the next 3 years. write your comments about the article :: © 2006 Construction News :: home page |