August 17 (SeeNews) - Croatia's Primo Real Estate [ZSE:M7PR] said it signed on Wednesday a deal to take over local real estate company Imobilia Tehno Tri in a transaction valued at 198.9 mln kuna ($26.9million/26.5 million euro).
“By this acquisition, Primo Real Estate takes over a company that manages its own commercial real estate property with a total area of some 15,000 square metres on three locations in Zagreb, as its portfolio consists of two office buildings and one property with warehouse and office premises,” it said in a filing to the Zagreb bourse.
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It did not elaborate on the name of the seller but according to data from Croatia's commercial court register, the company has been owned so far by local businesswoman Mira Rasic.
The acquisition is in line with Primo Real Estate's business strategy to significantly boost the number of commercial real estate in its portfolio, it added. Following the acquisition of logistics and distribution centre Sv. Helena, with this transaction the company invests primarily in office buildings in a move to diversify the structure of real estate under management.
The company listed its shares on the Zagreb bourse in July 2021. Since then, they have traded only once, on September 24, when they closed at 200 kuna per share as 1,000 shares changed hands.
(1 euro = 7.528 Croatian kuna)