One United Properties purchases majority share package of Bucur Obor

Real estate developer One United Properties has acquired the majority shares of the Bucur Obor commercial center, the transaction's value being 64.94 million lei, according to a press release sent by the developer, agerpres reports.

One United Properties has indirectly acquired the majority shares of Bucur Obor, through the means of the BO Retail Invest company.

"On November 19, 2021, BO Retail Invest acquired 54.4351% of the social capital of Bucur Obor for the sum of 64,935,000 lei, at 8.918 lei price per share, which represents a significant discount from the price of 21.8 lei, when the BUCU shares were being traded on the previous day. The contract between One United Properties and BO Retail Invest is subjected to authorization by the Competition Council, the transfer of owner rights upon the shares of BO Retail Invest taking place only after issuing this authorization," the press release reads.

Bucur Obor is a commercial center in Bucharest opened in 1975. Today, the center hosts shops of all sizes, from family owned businesses to internationally reputed brands. The company was listed on the Bucharest Stock Exchange in July 1997, and currently is rated on the AeRO market, having a market capitalization of 289 million lei.

In 2020, Bucur Obor registered a turnover of 31.6 million lei, including 26.9 million lei from rental incomes, and a net profit of 10.2 million lei.

One United Properties is the largest Romanian real estate company listed on the Main Market of the Bucharest Stock Exchange (BVB). The company's shares debuted on BVB on July 12, 2021, following a successful IPO, within which the company attracted 260 million lei for new real estate investments. Starting with September 20, 2021, the ONE shares are included in the BET index, following the evolution of the most liquid 19 companies listed on the Bucharest Stock Exchange.