“The transaction was completed in the context of a difficult real-estate market, with low levels of liquidity, especially for assets worth several million Euros. The buyer was identified through the global PwC network”, stated Cristian Ravasila, Senior Manager, Business Recovery Services Team Leader, PwC Romania.
The Oradea Hypermarket will soon be converted into a logistic center, with the new owner already working to set it up and to rent all or part of it for small manufacturing, storage and distribution, and logistics companies as well as for office space.
“We are very pleased to have completed this transaction. We believe that the Romanian market offers attractive opportunities for development of industrial parks, especially for logistic centers located in western Romania, with fast and easy access to the Central European market”, stated Jonathan Diamantino, Managing Director of Western Logistics SRL.
PIC SA entered bankruptcy in 2012 and still owns four hypermarkets in Pite?ti, Braila, Calarasi and Craiova, which are in various stages of the liquidation procedure.