Africa Israel Investment, the company that indirectly owns the AFI Cotroceni mall in Bucharest, will change owner.

US-Israeli billionaires Naty and Ofer Saidoff could take over the company, according to sources close to transactions, cited by local Economica.net.

Africa Israel is in insolvency. Greek real estate investor Ioannis Papalekas, the biggest office owner in Romania, also wanted to acquire the company, but was interested only in the assets in Europe, the same sources said.

Africa Israel Investments has EUR 682 million debts to bondholders. The company is currently owned by Lev Leviev, 61, known as "The King of Diamonds". He is the 14th richest person in Israel.

Africa Israel controls AFI Europe, a company that owns two shopping centers, in Bucharest (AFI Cotroceni) and Ploiesti, and the AFI Park and AFI Tech Park office projects.

AFI Europe Romania ups operating income by 11%

editor@romania-insider.com