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Swallowbird Trading & Investments Limited
Tasou 3

  • Swallowbird Trading & Investments Limited (“the Company”) was incorporated and registered in Cyprus in December 2007 as a private company.
  • The Company’s registered office is at Tasou 3 DADLAW HOUSE P.C. 1520, Nicosia, Cyprus.
  • The Company conducts its activities in the field of developing and managing real estate assets, mainly residential in Berlin, Germany.
  • The consolidated financial statements for each of the periods comprise the Company and its jointly controlled entities (together referred to as the “Group”).
  • The Company’s immediate parent company is ADO Holdings Limited (“ADO”), an Israeli company which holds 100% of the Company’s shares.

  • On December 18, 2007 the Company purchased 50% of the shares in 61 German companies which hold real estate assets in Germany, mainly in Berlin.
  • The shares have been bought from Cypriot companies (»Transferor«), fully owned by ADO Property Holdings Gmbh (»ADO Gmbh«), a fully owned subsidiary of ADO.

  • In January 2008, the Company completed, through its 50% jointly controlled entities, the purchase of EUR 6 million (the company share) portfolios of residential assets in Berlin.
  • In addition the Company acquired through its 50% jointly controlled entities residential assets in Berlin in the amount of EUR 5.5 million. The Joint ventures paid down payments in the amount of EUR 0.7 Million and currently is in the final negotiation with a European bank to finance 85% of the total cost of the assets.
  • The remaining 50% of the assets are held by SBI Real Estate Development B.V., Koningslaan 34, 1075 AD, Amsterdam,The Netherlands.
  • The rest of payments are expected to be made in June, 2008.