The transaction is worth some €225-230 million, which might translate into the largest transaction on the Romanian real estate market to date. Sources added that Irish investment fund Quinlan is to take over some 80 percent of the shares, while City Capital will buy the remaining 20 percent. When contacted by Business Standard, City Capital officials did not make any comments, as the information on this possible transaction is confidential.
City Capital bought the UPC office building last December for some €10 million and the Vodafone office building (€24 million) in November. City Capital Corporation Limited in London manages City Capital Property Limited. Winmarkt is part of New Century Holdings (NCH), one of the largest commercial space owners on the Eastern European market. According to company representatives, Winmarkt shopping centers registered €19 million worth of business last year, and they estimate that this year's level will exceed €25 million.
NCH has invested some $3 billion in Central and Eastern Europe, of which approximately $300 million in Romania (more than €230 million). Winmarkt retail currently hosts more than 700 clients, retail networks and local traders.
Winmarkt shareholders are Broadhurst Investments Limited - 48.1 percent, Ivington Enterprises Limited - 38.83 percent, the Authority for State Assets Recovery - 6.2 percent.
