[Amsterdam, March 17, 2013 - Kardan N.V. (“Kardan”), active in Real Estate, Water Infrastructure and Financial Services in emerging markets announces that, following the press release issued on February 20 last, further negotiations between Kardan Land China and an international fund to sell a 50% stake in its mixed-use project Europark Dalian (“the Transaction”) have ended.
The unbinding Letter of Intent (“LoI”) that parties signed on December 28, 2012 included an exclusivity period until February 18, 2013, which had been extended by mutual consent. Kardan Land China has now been informed by the international fund that it has decided not to pursue the Transaction