Antitrust agency approves sale of Sofia Business Park to Gramercy.
Antitrust agency approves sale of Sofia Business Park to Gramercy. The antitrust commission has approved the request of the US investment fund Gramercy Emerging Market for taking over the country's largest office rent complex Sofia Business Park . The deal will be operated through full-scale acquisitions of two Austrian-registered firms owned by the German construction company Lindner. The price is not officially unveiled but Lindner claims that Gramercy is selected in competition against 55 institutional investors that has probably raised the price far above EUR 1,000 per square metre. The Park has a rent space of 62,000 square metres at present and is expected to reach 116,000 square metres upon completion of all office buildings. Lindner is now running a large residential project in Sofia . Gramercy has already accumulated a big portfolio of equity investments in Bulgaria . In addition to its full control in Business Park Sofia, it has minority stakes in the main landline telecom BTC, the country's second largest drugs maker Sopharma, Bulgarian American Credit Bank, and the country's largest lubricant producer Prista Oil.