Popovici Nitu Stoica & Asociatii has advised Auchan on its acquisition of a land plot in Timisoara, Romania, from Plaza Centers, in a deal valued at EUR 7.25 million. The seller was assisted by Firon Bar-Nir.
Plaza Centers announced the disposal on August 7 and reported that the EUR 7.25 million price for the 32,000 square meter property is in line with book value.
This is the third reported deal in which PNSA has advised Auchan Retail Romania, following its work on Auchan's lease of 2300 square meters of space in the Bucur Obor Shopping Center from Bucur Obor (reported on by CEE Legal Matters on August 14, 2017) and on Auchan's acquisition of the land of the former Automatica factory in Bucharest (reported on by CEE Legal Matters on November 23, 2016).
The PNSA team was led by Partner Bogdan Stoica, Managing Associate Irina Ivanciu, Senior Associate Mariana Marcu, and Associate Ioana Avram.
The Firon Bar-Nir team consisted of Partners Ana Lavan and Ioana Mardare and Junior Associate Ana Zagor.