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Bucharest
February 1, 2023
BUSINESS

Imotrust Arad takes RON 19.3 M from BT for residential building

The shareholders of Arcvia Minerva (ASCE), a subsidiary of real estate developer Imotrust Arad (ARCV), okayed the proposal to take a loan worth RON 19.3 M from Banca Transilvania, for the construction of a block of apartments, Mediafax reports. The mortgage credit will be contracted for a 5-year interval, from the Arad branch of Banca Transilvania, and will be guaranteed with assets owned by Arcvia and by other companies of the Imotrust group. The block will have six flats. Company shareholders also authorised the Board to analyse the opportunity of transferring the company stock from the Rasdaq market to the 2nd Tier of BVB. The Board must present a viewpoint within a 3-month interval.

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