Strategic Internet Investments, Incorporated and Star Leisure & Entertainment Inc. cancelled the acqusiition of Akcenter Outlet and Shopping Center, Ankara from Muzaffer Mithar Ataman.
November 02, 2014 at 11:00 pm
Strategic Internet Investments, Incorporated (OTCPK:SIII) and Star Leisure & Entertainment Inc. entered into an agreement to acquire Akcenter Outlet and Shopping Center, Ankara from Muzaffer Mithar Ataman for 58.5 million on June 10, 2014. The purchase price includes 28.5 million payment in cash and 30 million worth common stock or convertible debentures or preferred shares or any combination of these securities. 5.7 million, 14.25 million and 8.55 million will be paid upon securing bank financing, within 3 months of securing bank financing and within 9 months of securing bank financing. The transaction is intended to be financed through a combination of cash, bank loans and equity share issuance. 1.5 million will be paid as introductory and facililiatory commission.
Strategic Internet Investments, Incorporated (OTCPK:SIII) and Star Leisure & Entertainment Inc. cancelled the acqusiition of Akcenter Outlet and Shopping Center, Ankara from Muzaffer Mithar Ataman on November 3, 2014.