Controversial businessman Alexander Adamescu to sell Brasov shopping mall to the City Hall

Romanian real estate company Unirea Shopping Center plans to sell a 10,300 sqm shopping center it owns in Brasov to the municipality. The company's shareholders approved the sale of this asset earlier this week, according to a report filed to the Bucharest Stock Exchange, quoted by Cursdeguvernare.ro.

The sale price was decided to be "the book value of the asset, after depreciation." Documents made public by the Brasov City Hall indicate that the asked price for the mall plus a 2,763 sqm plot of land was EUR 22.5 mln. The Brasov Local Council decided on December 16 to start the negotiations to buy the asset, which is located next to the city's main railway station.

Unirea Shopping Center Brasov was inaugurated in March 2008 following an announced investment of EUR 35 mln.

Unirea Shopping Center is 80% owned by The Nova Group Investments Romania, a company controlled by Alexander Adamescu, the son of former Romanian businessman Dan Adamescu, who died in January 2017 while serving a prison sentence for bribery.

Alexander Adamescu, who has been living in London since 2012, is also being prosecuted in Romania in a case related to the one in which his father was convicted.

(Photo source: Emicristea/Dreamstime.com)