27
Fri, May
48 New Articles

PNSA and NNDKP Advise on Dedeman Acquisition of AFI Park

PNSA and NNDKP Advise on Dedeman Acquisition of AFI Park

Romania
Tools
Typography
  • Smaller Small Medium Big Bigger
  • Default Helvetica Segoe Georgia Times

Popovici Nitu Stoica & Asociatii has advised Romanian DYI retailer Dedeman, on its acquisition of the AFI Park 1-3 office buildings in Bucharest from AFI, with an additional option to buy AFI Park 4 & 5. Nestor Nestor Diculescu Kingston Petersen and solo practitioner Bianca Stamatoiu advised AFI. 

The whole office complex, which spans 70,000 square meters, has a price tag of around EUR 164 million. This transaction marks the first exit of AFI developer from one of its projects in Romania.

At the end of 2016, Dedeman had 45 stores, over 9,200 employees, and a turnover close to EUR 1.2 billion. In Bucharest, the retailer has four stores, with another one set to open this summer.

“We have concluded that this acquisition is the most robust and confident step that we can take today in the field of commercial real estate, a sector that we want to invest in," said Dragos Paval, CEO of Dedeman, in a statement released by the company. "Furthermore, we believe that this investment will solidify our group and our core business of DIY retail together with the trust of our existing and future business partners." 

Real estate consultancy firm Colliers International worked with AFI on the sale. Robert Miklo, Associate Director at Colliers International, said the deal “can become not only the largest pure office deal in the history of the local investment market, [but also] one of the largest in the Central and Eastern European region.”

The Popovivi Nitu Stoica & Asociatii team was led by Partner Valentin Creata and included Associates Ela Marin, Raluca Petrescu, Andreea Grosu, Codrin Luta, Dana Casandra, Lavinia Dinoci, Catinca Turenici, Alexandru Stan, Raluca Rusu, Ana Maria Nacea, Geanina Popescu, and Luiza Zamura.

The NNDKP team was led by Partner Vlad Tanase, assisted by Senior Associate Ioana Grigoriu.

Image Source: afi-europe.eu

Romanian Knowledge Partner

Țuca Zbârcea & Asociații is a full-service independent law firm, employing cross-disciplinary teams of lawyers, insolvency practitioners, tax consultants, IP counsellors, economists and staff members. It also operates a secondary law office in Cluj-Napoca (Romania), and has a ‘best-friend’ agreement with a leading law firm in the Republic of Moldova. In addition, thanks to the firm’s dedicated Foreign Desks, the team provides the full range of services to international investors seeking to gain a foothold or expand their existing operations in Romania. Since 2019, the firm and its tax arm are collaborating with Andersen Global in Romania.

Țuca Zbârcea & Asociaţii is providing legal services in every aspect of business, covering all major areas of practice: corporate and M&A; litigation and international arbitration; corporate tax; public procurement; TMT; employment; insurance; banking and finance; capital markets; competition; healthcare and pharmaceutical; energy and natural resources; environmental; intellectual property; real estate; regulatory legal services.

Țuca Zbârcea & Asociaţii is a First-Tier law firm in all international legal directories and a multiple award-winning law firm both locally and internationally. It received the CEE Deal of the Year Award (DOTY Awards 2021) and the Law Firm of the Year Award: Romania (IFLR Europe Awards 2021). 

Firm's website.

Our Latest Issue