It paid EUR 23.2 million for all the assets. The new properties will increase the company’s annual net operating income to over EUR 8 million.
The investor will sustain the acquisition, by issuing shares with EUR 0.61. The capital boost will leave untouched the company’s cash reserves.
In March, the fund attracted EUR 8 million through a public offering. It intended to use the funds to buy assets in Romania, Bulgaria and Greece.
The fund bought the Praktiker store from another Cyprus-based fund called Bluehouse Capital, which also bought it from Cypriot businessmen with EUR 10 million in 2011. (source: Romania-insider.com)
