January 6 (SeeNews) - Bulgarian real estate company Sofia Commercial Centre, a subsidiary of Bucharest-listed real estate investment trust (REIT) New Europe Property Investments (NEPI), has filed for regulatory approval to acquire local company AP Retail I, owner of shopping centre The Mall in the capital Sofia, the competition watchdog said.
The transaction is expected to affect the market for commercial premises in shopping centres and malls in Sofia, the Commission for Protection of Competition said in a filing last week.
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Approached for comment, NEPI declined to confirm that the planned acquisition will take place.
"We are not yet present in Bulgaria, but we are considering entering the market," NEPI investment manager Sorin Badea told SeeNews in an email. "We cannot confirm the acquisition you mentioned will occur. We will release a public statement if such transaction will be finalised," it added,
According to Trade Registry data, AP Retail I is owned by Cyprus-based Fortore Holdings.
However, according to local newspaper Capital, Greek-based private equity real estate group Assos Capital holds 85% of AP Retail I.
The newspaper, citing market participants, reported that the transaction is part of a package deal worth 180 million euro ($190.5 million) under which Sofia Commercial Centre will acquire The Mall for 160 million euro and a Carrefour hypermarket owned by UniCredit Bulbank for 20 million euro.
The Mall opened in 2010, after two years earlier Assos Capital acquired for 200 million euro the shopping, entertainment and office complex project from Carrefour Bulgaria EOOD, a joint venture between Carrefour S.A. and Greece's Marinopoulos S.A. in Bulgaria, data published on Assos Capital's website shows.
The Mall covers an area of 66,00 sq m and accommodates some 200 stores.
In Southeastern Europe, NEPI, which is also listed on the Johannesburg Stock Exchange, owns 15 shopping centres in Romania, one in Serbia and another one in Croatia, according to the company's website.
($= 0.9446 euro)