If AFI develops the project, the value of the investment could exceed one billion euros in shopping, office and residential centers.

To acquire the 75% stake in the Casa Radio project, AFI Europe pays 60 million euros. The Romanian state controls 25% of the Casa Radio project.

The sale-purchase pre-contract represents the second stage of the acquisition process following the signing of the non-binding letter of intent by the two companies in February 2019.

At this time, AFI Europe conducts its due diligence operations, which it will conclude in September 2019. Under the conditions of successful completion of the diligence operations and the fulfillment of certain conditions, the two companies will advance to the final stage of the acquisition process.

Doron Klein, CEO of AFI Europe Romania, said in February this year that the Casa Radio project would be bigger than the one at AFI Palace Cotroceni, where five office buildings were built next to the mall. (source: zf.ro)