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Plaza Centers proceeds with plan for sale of land plot in Romania's Brasov

Plaza Centers proceeds with plan for sale of land plot in Romania's Brasov Deal, business, corporate contracts

BUCHAREST (Romania), November 29 (SeeNews) - Real estate developer Plaza Centers N.V. said its indirect subsidiary has signed a first addendum to a pre-agreement for the sale of a land plot in the city of Brasov, in central Romania, for 620,000 euro ($682,780).

The value of the pre-agreement signed on February 5, 2019 is slightly above the last reported book value, Plaza Centers said in a press release.

By signing the addendum, the purchaser confirmed that the result of its due diligence investigations is positive and that the payment for the land will be made not later than February 15.

In June, Plaza Centers signed a pre-contract with real estate developer AFI Europe Romania for the sale of a 75% stake in the Casa Radio project in Bucharest for 60 million euro.

Casa Radio is the most important ongoing project of Plaza Centers in Romania. Plaza Centers started the project in 2007 under a public-private partnership agreement with the Romanian government. The property includes a site covering an approximate area of 92,000 sq m, according to information posted on the company's website.

($= 0.9081 euro)

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