One United Properties announces the conclusion of the acquisition of a 100% stake in Bucur Obor S.A.
One United Properties (BVB: ONE), the leading green developers of residential, mixed-use and office real estate in Romania, announces the conclusion on February 8th, 2022 of the acquisition of the majority stake of Bucur Obor S.A. Following the conclusion of the transaction, One United Properties holds sole direct control over BO Retail Invest S.R.L. which in turn holds a majority stake in Bucur Obor S.A., a company listed on the AeRO Market of the Bucharest Stock Exchange under the symbol BUCU.
“We are thrilled to finalize the transaction for a controlling stake over Bucur Obor. Bucur Obor has a long-standing history of profitability but above all, it is emblematic location for the city of Bucharest and its inhabitants. We look forward to integrating Bucur Obor’s performance into the consolidated activity of One United Properties and consequently, creating additional value for the stakeholders involved,” said Victor Capitanu, co-CEO at One United Properties.
In November 2021, by means of the loan provided by One United Properties, BO Retail Invest S.R.L. acquired 54.4351% of the share capital of Bucur Obor S.A. against a sum of RON 64,935,000, at a price per share of RON 8,918. The transaction was finalized on February 8th, 2022 following the green light from the Romanian Competition Council, which One United Properties received on February 4th, 2022. The acquisition of BO Retail Invest S.R.L. by One United Properties was done at a nominal value.
The developer’s decision to purchase the majority stake of Bucur Obor S.A. is in line with One United Properties’ strategy to increase the share of the profits from rental activity in the total profits of the company. The shopping centre Bucur Obor in Bucharest opened its doors in 1975. Today, the centre accommodates stores of all sizes, from family businesses to well-known international brands. The company was listed on the Bucharest Stock Exchange in July 1997.
One United Properties is the largest real estate developer listed on the Bucharest Stock Exchange. The company’s shares floated on BVB on July 12th, 2021, following a successful IPO, during which the company raised 260 million lei for new real estate investments. As of September 20th, 2021, ONE shares are included in the BET index, which follows the evolution of the 19 most liquid companies listed on the Bucharest Stock Exchange and as of December 20th, 2021, ONE shares are included in the FTSE Global All Cap index, which follows the most liquid shares in the world.
ONE UNITED PROPERTIES is the leading green developer of residential, mixed-use and office real estate. One United Properties is an innovative company dedicated to accelerating the adoption of construction practices for energy-efficient, sustainable, and healthy buildings. All the company’s buildings have superior certifications for sustainability, energy efficiency and wellness, and the developer has been awarded at numerous galas and conferences in the field. One United Properties is the first real estate developer in Romania to be internationally awarded, being the recipient of the “Best Sustainable Residential Development” in the world at International Property Awards 2019-2020. The company is listed on the Main Market of the Bucharest Stock Exchange, with the symbol ONE and its shares are included in the FTSE Russell Global All-Cap index, which follows the most liquid shares in the world.