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Israeli investor completes purchase of Delta City Mall Podgorica

Author Radomir Ralev
Israeli investor completes purchase of Delta City Mall Podgorica Source: Hystead

PODGORICA (Montenegro), May 23 (SeeNews) - Israeli company BIG Shopping Centers has completed the acquisition of Delta City Mall Podgorica in Montenegro for 95 million euro ($101 million), it said.

BIG Shopping Centers has acquired Delta City Mall Podgorica via CEE-BIG BV, a company in which it holds a 95% stake, and will use a bank loan to finance 57 million euro of the purchase price, it said in a filing with the Tel Aviv Stock Exchange (TASE) on Sunday.

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In February, BIG Shopping Centers said it signed an agreement to acquire Delta City Mall Podgorica.

In December, UK-based Hystead Limited, majority owned by South African real estate investment trust (REIT) Hyprop Investments, said it expects to complete the sale of Delta City Mall in the first quarter of 2022. Hystead received a non-binding offer to sell its entire shareholding in the entity that owns in the shopping mall, based on a gross property value of 95 million euro, it said back then.

Hystead acquired Delta City Mall Belgrade and Delta City Mall Podgorica from Serbia's Delta Holding for 127.8 million euro in February 2016.

($ = 0.93708 euro)

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