» Update on the Acquisition of an Interest in the Mega Mall Development in Bucharest

Update on the Acquisition of an Interest in the Mega Mall Development in Bucharest

Posted on: 29 August 2013


As announced on 2 August 2012 and in the company’s half-yearly report for the six months ended 30 June 2013, the group concluded a framework agreement to acquire a 70% interest in a permitted development site named Mega Mall (otherwise known as the former Electroaparataj factory site) in Bucharest, Romania, where NEPI intends to develop a 70,000m2 GLA shopping mall in conjunction with Austrian development group, Real4You. The agreement was subject to various conditions precedent to be fulfilled or waived by the end of August 2013. NEPI is pleased to announce that all of the conditions precedent have been fulfilled and the acquisition has been completed.