Norway’s sovereign fund looking to buy former industrial platform in Romania's Cluj-Napoca

Norway’s sovereign fund, which manages assets worth over USD 1 billion, is looking to buy a former industrial platform in Cluj-Napoca, according to information circulating in the local real estate market and quoted by Ziarul Financiar.

The fund has already acquired a lot of the Unirea SA industrial platform and is looking to buy the whole platform or as much of it as possible. The fund’s representatives didn’t comment.

The shareholders of Unirea SA, an industrial platform that used to manufacture machinery for the metallurgical industry, approved at the end of July the sale of nine land plots totaling 41,500 sqm for over EUR 18 million. The company is controlled by local businessman Ion Bene and his family.

Cluj-Napoca is one of the fastest-growing real estate markets in Romania.

Norway’s sovereign fund, which invests the money Norway cashes in from its rich oil land gas deposits, invests in companies and properties around the world. The fund also owns shares in several Romanian companies listed on the Bucharest Stock Exchange.

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