• Transaction / Assets
    CTT Sells Former Headquarters in Lisbon for €25 million
  • Seller
    CTT
  • Buyer
    undisclosed
  • € MM
    25

CTT Sells Former Headquarters in Lisbon for 25 Million Euros

18 December 2017

This Monday, CTT – Correios de Portugal formalised the sale of the property where the former headquarters of the Portuguese national post offices once operated in Lisbon, for 25 million euros, the Securities Market Commission (CMVM) announced Monday.

CTT signed the public deed of definitive sale of the property on the Rua de São José, in Lisbon, last Friday, the company said in a statement. The name of the buyer was not disclosed.

“The total amount received by the company relating to the sale of the property corresponds to the contracted price (representing a capital gain of approximately €16 million, with a tax liability of approximately €2 million)”, the company stated.

CTT had entered into a contract for the purchase and sale of the property on December 15, 2016.

At the time, the company said that the deed should occur “within a maximum period of 12 months” and was “only conditional on the non-exercise of pre-emptive rights in the sale of these properties by the administrative authorities legally entitled to such right.”

Original Story: Sábado.pt – Mariana Branco

Translation: Richard Turner