June 3 (SeeNews) - Serbia's competition authority said it granted approval to Polish real estate developer Global Trade Center (GTC) to acquire Napred 41, the holder of the long-term right to lease 19,500 square metres in the New Belgrade district Block 41 area.
By purchasing Belgrade-based Napred 41,GTC will gain the opportunity to develop a real estate project, the Commission for Protection of Competition (CPC) said in a decision published on its website.
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GTC participates in the transaction through its Hungarian subsidiary GTC Magyarorszag, according to the decision dated April 16.
Napred 41 is wholly owned by British Virgin Islands-based Groton Global Corp, according to data from the Serbian Business Register.
Last week, GTC agreed to sell its Belgrade office portfolio to Hungarian investor Indotek Group for 267.6 million euro ($326.2 million). The agreement covers the sale of 11 buildings in five business parks - Green Heart, FortyOne, Belgrade Business Center, 19 Avenue and GTC House - with a total gross leasing area of 122,175 square metres with high occupancy rates, located in the New Belgrade district.
Elsewhere in Southeast Europe, GTC is present in Croatia, Romania and Bulgaria.
($ = 0.820446 euro)