October 26 (SeeNews) - Romanian insolvency administrator CITR, part of investment group Impetum, said that it has sold the cultural centre Fabrica de Cultura in the central town of Sibiu to the local city hall for 5.3 million euro ($5.6 million).
The property, consisting of a 34,000 square metres land plot and buildings totaling 6,776 square metres, was formerly owned by the local construction company Constructii SA, which is currently undergoing reorganisation, CITR said in a press release on Tuesday.
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Situated on the outskirts of Sibiu, Fabrica de Cultura emerged from the transformation of the former prefabricated and concrete production facility owned by Constructii SA.
CITR is administering 1 billion euro in assets and distributing annually over 100 million euro to creditors, according to its website.
($=0.948636 euro)