Adamescu sells 3.6 pct of Unirea Shopping Center stake to stepson For EUR 0.5 mln

Newsroom 03/11/2014 | 17:52

Romanian businessman Dan Adamescu has sold a 3.6 percent stake in Unirea Shopping Center to his stepson, Rani Palade, for RON 2.2 million (EUR498,400).

The transfer took place Friday for a price of 20.44 RON/share, according to a press release sent to the Bucharest stock market.

The deal was operated on a price 67 percent lower than the most recent Unirea Shopping Center trading session on the Rasdaq market. The company’s shares were traded on the regular market on October 19 for a price of 62 RON / unit.

The Adamescu family has indirect control over Unirea Shopping Center through The Nova Group Investments Romania, which owns 74.16 percent of the mall’s shares. Also in the shareholder structure we find SIF Mutenia with 10 percent while the rest of the shareholders own 15.8 percent of the capital.

The company has a total share capial of EUR 41.8 million.