GBT Technologies announce Agreement for Planned Acquisition of Nexus Workspaces from CGI

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GBT Technologies announce Agreement for Planned Acquisition of Nexus Workspaces from CGI - GlobeNewswire

Quick Summary:

This expected sale underscores our commitment to delivering value to all stakeholders and fostering long-term success.” The agreements contemplate a phased transaction structure, starting with GBT acquiring 49% ownership of Nexus properties in Wellington, West Palm Beach, and Stuart, followed by full ownership across the portfolio.

MIAMI, Nov.27, 2024 (GLOBE NEWSWIRE) -- GBT Technologies, Inc.("GBT”) has entered into non-binding agreements to acquire real estate interests in Nexus Workspace properties and to acquire a related Nexus Workspace intellectual property portfolio.

Under the agreements, GBT, through its wholly owned subsidiary to be incorporated, Nexus Workspace Holdings, Inc.("NH”), will acquire Nexus Workspace’s Florida-based properties, including flagship locations in Wellington, West Palm Beach, Stuart, Boynton Beach, and Boca Raton.