Blackrock International Land admitted to trading
Property company Blackrock International Land plc has been admitted to trading on the IEX market of the Irish Stock Exchange and the AIM market of the London Stock Exchange.
Blackrock is an Irish-registered company that was incorporated for the purposes of effecting a demerger by Fyffes plc of its property undertaking.
At an extraordinary general meeting held on May 9, Fyffes shareholders adopted the resolutions required to implement the demerger and also approved a subscription by Fyffes for 40% of Blackrock.
Blackrock’s initial property portfolio is made up of 30 properties, 29 of which are wholly-owned by the company and its subsidiaries with a market value of approximately €195m and one property held in three joint venture companies with a net investment value of approximately €2m.
The property portfolio comprises industrial and commercial land and buildings in Ireland and the UK.
The stated principal objective of Blackrock is to use its existing asset base to build an international property business with a focus on identifying development opportunities and making appropriate additions to its property portfolio.
