BIG buys Promenada Novi Sad for EUR 177 million – NEPI Rockcastle withdrawing from Serbian market
Source: eKapija
Friday, 11.10.2024.
11:49
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Promenada (Photo: Shutterstock/Andrej Privizer)
– Shareholders are advised that the disposal was successfully concluded on October 7, 2024, in accordance with the terms of the agreement and the final cash proceeds amounting to EUR 177 million were settled – says the announcement on the company’s website.
NEPI Rockcastle announced in July that, through its wholly owned subsidiary NE Property B.V., it had entered into a binding agreement to dispose of 100% of the shares in the subsidiary holding the retail property known as Promenada Novi Sad to a Serbian subsidiary of CEE BIG BV. The net proceeds from the disposal, in the amount of EUR 177 million, they added, will be used to fund NEPI Rockcastle’s pipeline of acquisitions and developments.
Following the disposal, NEPI Rockcastle will no longer have properties and will cease its operations in Serbia.
I. Z.
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Tags:
Nepi Rockcastle
CEE BIG BV
NE Property
Promenada Shopping Center
Promenada Novi Sad
sale of Promenada
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