ONV LAW assisted a major player in the Romanian market with the acquisition of the company owning the Eva store

• The ONV LAW team assisted a Romanian investor in acquiring the full share package of Bluehouse Investiții SRL, which owns the property where the Eva store was located.
• The transaction was valued at approximately EUR 8 million.
• The ONV LAW legal team was coordinated by Partner Lorena Ciobanu and supervised by Radu Nemeș, Managing Partner.

The ONV LAW legal team assisted a Romanian investor, a company active on the market since 2007, in a transaction worth approximately EUR 8 million for the acquisition of the full share package of Bluehouse Investiții SRL, which owns the property where the Eva store once operated.

“The real estate market in Romania has experienced steady growth in recent years, with increasing interest in residential and commercial properties. Real estate investments are stimulating, and strategic investors' acquisition of commercial spaces has become a more common practice. These investors seek to capitalize on long-term profitability potential and diversify their portfolios. Overall, the market continues to be dynamic, with long-term growth prospects,” said Radu Nemeș, Managing Partner at ONV LAW.

This acquisition opens new development opportunities for the investor, with the company benefiting from the expertise of ONV LAW’s legal team throughout the negotiation and completion process.

“The transaction represents an important moment for the real estate sector and a crucial step in developing our client's portfolio. We are grateful for the opportunity to assist a significant market player in a successful local real estate transaction. Through this deal, our client has taken over the entire share package of Bluehouse Investiții, which holds ownership of the property where, at one time, the Eva store operated,” said Lorena Ciobanu, Partner at ONV LAW.

The 1,700 sqm property is located in central Bucharest, on Magheru Boulevard, and is currently largely occupied by retailer Mega Image.

ONV LAW was involved in all stages of the transaction, assisting in the due diligence process, the structuring, preparation, and negotiation of the transaction documents, as well as complex negotiations with the Greek bank of Bluehouse Investiții.

Such a transaction is a complex process that can take several months and involves, among many others, reviewing existing contractual documentation, assessing financial relationships and loans, analyzing the real estate assets owned, validating insurance policies, checking necessary permits, as well as examining potential legal risks and lawsuits associated with the transaction.