A green light would be the first acquisition of a real estate fund in distress operating in Romania this year.
“At a €0.3 per share bid, the price would amount to €46.4 million. We have part of the money and, if Carpathian shareholders agree, we have the support of the group,” according to NEPI representative Alex Morar.
The price is 14 percent above Carpathian’s market capitalization, worth €40.5 million. “Carpathian’s Board of Directors is to obtain clarification on some details, such as due-diligence and financing, before it formally accepts the offer,” according to a company press release.
In Romania, Carpathian owns the Macromall shopping center, which is located in the central city of Brasov and is already operational. It is also developing four malls in major Romanian cities. It is likewise operating in the Czech Republic, Croatia, Poland, Hungary, and Baltic States.
