Romanian developer One United evaluated at EUR 270 mln upon sale of 8% stake

Owners of Romanian real estate developer One United Properties have sold 8% of its shares to a group of Romanian investors for a EUR 22.7 million contribution to the company’s capital, Ziarul Financiar reported.

The deal indirectly values the group controlled by local entrepreneurs Victor Capitanu and Andrei Diaconescu at EUR 270 million.

“It was a transaction that started in 2018 and was completed now in 2019. One United Properties was valued at EUR 270 million, of which EUR 250 million was the initial value, plus EUR 20 million new money brought by the investors,” said Victor Capitanu.

One United Properties had previously sold another 8% stake in 2017 when the group was valued at EUR 123 million.

Earlier this year, One United Properties decided to enter a new segment of the real estate market by developing a logistics park near Ploiesti. The development of the first stage of the project involves an investment of about EUR 25 million. The project also envisages the construction of about 20,000 square meters of office space, in addition to the 220,000 square meters of warehouse space.

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