Nepi Rockcastle’s Romanian office disposal to proceed

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The group had entered arbitration with AFI Europe after the transaction failed to proceed, but will now go ahead within four months

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Serdika Center, one of six Central and Eastern European malls acquired by Nepi Rockcastle. Picture: FABRYECE SERDIKA CENTER

The transaction with AFI Europe was announced in December, and was meant to have been completed in March, but the parties entered arbitration after a breach of agreement on the sale of the portfolio. The disposal consideration remains unchanged, with the €290m to be adjusted based on the subsidiaries’ financial statements as of the date of completion.

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