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Immofinanz Completes Acquisition of Romanian Adama

Published: November 9, 2011; 19:12 · (Vindobona)

The Austrian real estate group has taken full control over the southeastern European housing firm, in which it has held a stake since 2007.

Immofinanz Completes Acquisition of Romanian Adama / Picture: © Immofinanz

Immofinanz has completed the acquisition of the 69.2% stake the group does not already own in residential developer Adama Holding. Immofinanz bought the stake for € 42.4m from US-based hedge fund Tiger Global, Morgan Stanley, Lehman Brothers UK in administration, and founding shareholders. The Austrian group has held an investment in Adama since 2007.

Board Member Daniel Riedl…

This article includes a total of 154 words.

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