Branicks/ViB - comment

The sale of 4 logistics properties from the ViB portfolio will raise around €150m. The rationale for the deal is the diversification of ViB’s portfolio, so ViB may make further purchases of assets from Branicks.

- The rent roll is €6.7m and at 4.5% yield = €150m. If we assume 40% goes to reduce bank debt at the ViB level and ownership of the asset is 90%, the additional cash at the ViB level is around €81m (excluding any leverage on asset purchases.