Romania: Schoenherr advises Eurobank on sale of Brico Depot Iasi to Radacini Group
Schoenherr Romania advised Eurobank S.A. Greece ("Eurobank") on the sale of a real estate asset in Iasi, Romania. The commercial space, which has a sales area of approx. 8,000 m2 and houses a Brico Depot do-it-yourself ("DIY") store, was sold to the real estate division of Radacini Group.
Schoenherr advised on the full range of sell-side corporate/M&A matters in connection with this transaction, which was structured as a share deal and was closed in Bucharest on 10 January 2023.
"This is the second transaction in the past six months where we have advised Eurobank on the disposal of real estate in Romania," said partner Mădălina Neagu, who led the team advising Eurobank. "We are happy to have been part of this project and would like to congratulate the parties for their successful closing of the deal."
The Eurobank Group, consisting of Eurobank SA and its subsidiaries, is a financial organisation that develops financial products and services, operating in Greece, Cyprus, Luxembourg, Serbia, Bulgaria and the UK. As of September 2022, Eurobank counted EUR 83.4bln in total assets, 615 branches in Greece and abroad, and 11,343 employees.
Radacini Group is one of the leading distributors of cars in Romania. The network currently includes car dealerships and authorised service centres in Bucharest, Braila, Brasov, Constanta, Galati and Ploiesti.
The Schoenherr team advising on the transaction was led by Mădălina Neagu (partner) and included Cristina Enaga (managing attorney at law), Mihaela Popescu (senior attorney at law) and Alexandra Șmahon (attorney at law).