Czech billionaire pays EUR 130 mln for 6% in biggest office owner in RO

Radovan Vitek, the third richest Czech, has bought over 6% of real estate developer and investor Globalworth, the largest owner of office buildings in Romania that is also active on the Polish market.

The Czech investor, who operates through his company CPI Property Group (CPIPG), paid almost EUR 130 million for just over 6% of Globalworth.

Vitek’s group already owns several real estate projects in Romania. CPIPG bought the shares through a broker on the secondary market and said it does not intend to make an offer to take over Globalworth in the short term.

“Globalworth has one of the best office portfolios in the CEE region,” said Martin Nemecek, CEO of CPIPG.

“We believe Globalworth will continue to deliver excellent returns and are proud to introduce CPIPG as a supportive shareholder,” he added.

The Czech group has become Globalworth's fifth-biggest shareholder after Growthpoint Properties of South Africa (29.4%), Aroundtown of Germany (21.9%), Ioannis Papalekas - the founder of the company (10.7%), and Altshuler Group (6.2%).

Founded in 2013, Globalworth is a leading owner of income-generating office properties in Poland and Romania with about EUR 2.8 billion of assets generating more than EUR 180 million of gross rental income each year.

CPI Property Group is the largest real estate investor in the Czech Republic and Berlin, with properties worth EUR 7.9 billion.

(Photo: Pixabay)