Greek investor gets EUR 53 mln on the London Stock Exchange

Real estate developer Globalworth, which is controlled and managed by Greek investor Ioannis Papalekas, has attracted some EUR 53.8 million on the London Stock Exchange, more than planned. Last week, Papalekas said that the company planned to attract EUR 35 million on the London bourse, and that it would use the funds for new investments and acquisitions in Romania. Globalworth could buy two office buildings within the office project Green Court Bucharest, developed by the Swedish group Skanska. Papalekas already bought the first building of this complex this year for EUR 44 million.

The company is also looking to buy a portfolio of 26 real estate properties in Romania.

Globalworth’s existing shareholders have subscribed over 60% of the attracted funds, namely EUR 34.5 million. American fund York Capital, which holds 24.5% of the company, brought EUR 25 million, and Oak Hill Advisors contributed EUR 7.2 million, reaching a 13.4% stake in the firm. editor@romania-insider.com