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ZF English

Potential buyer for City Mall: We'll sell it for sure in a month, liquidator says

Autor: Cristi Moga

12 mai 2011 144

City Mall shopping center in Bucharest, currently bankrupt,might find a buyer at the third auction, for a price of at leastEUR 26.2 million, considering Casa de Insolvenţă Transilvania, theproject's liquidator, sold a document detailing the conditions ofcontract to an interested investor.

Sources told ZF a potential buyer was Austrian investment fundImmofinanz, the biggest foreign owner of property on the localmarket, whose portfolio stands at EUR900 million. Immofinanzofficials had not commented on the information at hand by editionclose.

The deadline for buying the conditions of contract document anddepositing the auction guarantee is 12 pm on Friday, with the saiddocument costing 5,000 lei plus VAT and the guarantee set at EUR5.2million.

"We sold a conditions of contract document and I am optimistic.There is appetite for buying the mall because the price has becomeattractive. We'll sell for sure in a month," says Radu Lotrean,partner of Casa de Insolvenţă Transilvania.

The investor that bought the conditions of contract document hadnot deposited the guarantee by Thursday so that its participationis yet uncertain.

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