Two Bucharest mall parent companies merge

The two companies which control the Bucuresti Mall and Plaza Romania shopping centers in Bucharest, both owned by Turkish group Anchor, will merge, according to Mediafax. The two shopping malls will be run by Bucureşti Mall Development and Management. The two companies together have assets of around EUR 200 million. The shareholder of the resulting firm will continue to be Anchor Retail Investment – 96.92%, and Fiba Capital Investment, with the rest. Both companies are registered in the Netherlands. Plaza Mall Development and Management, the company which will be closed down after the merger, has EUR 137 million of assets, of which EUR 34 million covers the shopping mall value. The company however has some EUR 166 million in debts. The remaining firm has EUR 66 million in assets, and some EUR 14 million in debt. Anchor’s both shopping centers are under revamping, a EUR 25 million investment. editor@romania-insider.com (photo: Romania-Insider.com)