Romanian DIY retailer pays EUR 7 mln for 50,000 sqm plot

Do-it-Yourself (DIY) retailer Dedeman will buy from Rosal Grup a 5-hectare plot located in Pantelimon, Ilfov county, close to Bucharest, for some EUR 7 million. Honorius Prigoana, the son of notorious businessman Silviu Prigoana, holds a 67% stake in Rosal Grup. Parties should ink the deal sometime in February, reports local Mediafax. The two companies have signed a pre-contract for the sale of the 50,000 sqm plot for EUR 5.6 million (without VAT), which brings the purchase price to EUR 140 per square meter. Dedeman will probably build a logistics center on the purchased land, according to sources in the market. Neither parties commented on the deal. editor@romania-insider.com