The Company communicates that it has sold and transferred 100% of its stake in Quality Invest S.A. equivalent to 50% of the stock capital.
Quality Invest S.A. owns a property located at Avenida San Martín 601/611/645 in the district of San Martín, Province of Buenos Aires, of 159,996 sqm with a covered area of 80,027 sqm, which used to be the Nobleza Picardo´s industrial plant until 2011.
The transaction price was set at USD 22.9 million of which USD 21.5 million has been collected with the transfer of the shares and the balance of USD 1.4 million will be collected after 3 years, accruing an annual interest of 7%.
The financial result of this operation will be recognized in the Company's Financial Statements for the first quarter of fiscal year 2024.