Kinstellar has advised FirstFarms, a Denmark-based land and agriculture investor in Eastern Europe, on the sale of a farm covering approximately 1,700 hectares in western Romania.
According to the stock exchange release of FirstFarms, the value of the transaction is DKK 85 million, or approximately EUR 11.4 million.
Anders Norgaard, CEO of FirstFarms, says that “with this sale we are realizing a significant and satisfactory profit from our development of land in western Romania. I am pleased that the significant hidden values in our land portfolio can be partially realized through this sale."
Kinstellar’s team was coordinated by Partner Razvan Popa and included Senior Associate Stefanita Georgescu and Associates Ana-Maria Mustatea and Madalina Perte.
Kinstellar was unable to disclose information about the buyer or its counsel.