The purchase, from its landlord Bruil for €23m, was announced on May 1, subject to finance. It has been financed with a partially amortising five-year package comprising €19m from ABN AMRO and a commercial loan of €4m.
The financing terms will result in a lower overall income statement charge over the next 20 years. The acquisition also reflects Accsys’s continued successful efforts to improve its overall financing arrangements.
Ownership of the land is expected to provide enhanced strategic options, operational security and greater flexibility in respect of the use of the land.
