Austria's Immoeast could fully take over Adama projects

Austrian investment fund Immoeast, the leading investor on the Romanian real estate market over the last few years, could fully take over real estate developer Adama, where it is already a shareholder with an around 30% stake, according to market sources. Immoeast has dropped several partnerships this year that had been sealed during the rise of the real estate market, buying out of the projects where Eyemaxx and European Future Group were also shareholders, and selling stakes in a series of projects developed with S+B Gruppe. "In a time of transition, when not so much money is made any more, the shareholders think about using their options (buying or selling shares i.e.). We could make a shareholder structure restructuring in the next year, but we don't know what it will look like. I cannot comment on behalf of the other shareholders," said David Flusberg, founder and minority shareholder of Adama.