32 C
August 17, 2022

One United Properties announces the conclusion of an acquisition of a majority stake in Bucur Obor S.A.

One United Properties (BVB: ONE), the leading green developers of residential, mixed-use and office real estate in Romania, announces the conclusion on February 8th, 2022 of the acquisition of the majority stake of Bucur Obor S.A. Following the conclusion of the transaction, One United Properties holds sole direct control over BO Retail Invest S.R.L. which in turn holds a majority stake in Bucur Obor S.A., a company listed on the AeRO Market of the Bucharest Stock Exchange under the symbol BUCU.

“We are thrilled to finalize the transaction for a controlling stake over Bucur Obor. Bucur Obor has a long-standing history of profitability but above all, it is emblematic location for the city of Bucharest and its inhabitants. We look forward to integrating Bucur Obor’s performance into the consolidated activity of One United Properties and consequently, creating additional value for the stakeholders involved,” said Victor Capitanu, co-CEO at One United Properties.

In November 2021, by means of the loan provided by One United Properties, BO Retail Invest S.R.L. acquired 54.4351% of the share capital of Bucur Obor S.A. against a sum of RON 64,935,000, at a price per share of RON 8,918. The transaction was finalized on February 8th, 2022, following the green light from the Romanian Competition Council, which One United Properties received on February 4th, 2022. The acquisition of BO Retail Invest S.R.L. by One United Properties was done at a nominal value.

The developer’s decision to purchase the majority stake of Bucur Obor S.A. is in line with One United Properties’ strategy to increase the share of the profits from rental activity in the total profits of the company. The shopping centre Bucur Obor in Bucharest opened its doors in 1975. Today, the centre accommodates stores of all sizes, from family businesses to well-known international brands. The company was listed on the Bucharest Stock Exchange in July 1997.

One United Properties is the largest real estate developer listed on the Bucharest Stock Exchange. The company’s shares floated on BVB on July 12th, 2021, following a successful IPO, during which the company raised 260 million lei for new real estate investments. As of September 20th, 2021, ONE shares are included in the BET index, which follows the evolution of the 19 most liquid companies listed on the Bucharest Stock Exchange and as of December 20th, 2021, ONE shares are included in the FTSE Global All Cap index, which follows the most liquid shares in the world.

Related posts

Garanti Bank and IFC sign a EUR 55 million-loan agreement. The agreement aims to support SMEs and energy efficiency investments in Romania


FinMin Caciu on inflation: There will be two or three more complicated months


Holde Agri Invest raises approximately 21 million lei from investors and successfully closes the share capital increase operation