Immofinanz Acquires Romanian Property Developer

Lifestyle & TravelPersonal Real Estate ♦ Published: June 16, 2011; 17:28 ♦ (Vindobona)

The Austrian real estate company buys the remaining stake for € 42.43m in order to become sole shareholder of Bucharest-based Adama.

Immofinanz Acquires Romanian Property Developer / Picture: © Flickr / Dan Nevill (CC BY-ND 2.0)

The Immofinanz Group announced the signing of an agreement for the acquisition of the remaining 69.22% stake in Adama Holding Public Ltd. as of 16 June 2011. Immofinanz has held its investment in this leading South-East European residential property group since 2007 and will now become the sole shareholder. The purchase price for the stake totals € 42.43 million. The sellers include…