Romanian developer One United Properties says it will take over a majority stake in Bucur Obor, a shopping centre based in Bucharest.
The company took over a stake of 54.43% for RON 64.9 million (€13.1 million) at a price per share of RON 8.9 compared to the trading price in the previous day of RON 21.8 per share. One United Properties made the purchase through another company. The shopping centre was launched in 1975 and has a mixed portfolio of tenants.
Bucur Obor is listed on the AeRo market of the Bucharest Stock Exchange (BVB) at has a market capitalization of RON 289 million (€58.3 million). Shares in the company were flat at RON 21.8 on Friday afternoon trading, while One United Properties’ shares were up 0.25% to RON 2.
The acquisition marks One United Properties' expansion in the retail segment. The company has a growing development portfolio in the residential, office and mixed-use segments.
