New Europe Property Investments (LON:NEPI) has agreed the sale of a hypermarket in Romania to Auchan Romania SA for approximately €28.7 million in cash.
consulting oradea
The hypermarket to be sold has a gross lettable area of approximately 18,264 square metres and is part of the Retail Park Auchan, situated in Pitesti, Romania.
NEPI considers Auchan's offer to be attractive and plans to reinvest the sale proceeds in other higher yielding investments.
The deal is expected to be completed by the end of March 2013.
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