Real estate developer WDP, whose main shareholder is one of Belgium’s richest families, is preparing to buy the Expo Market Doraly commercial complex in Afumata from entrepreneur Gheorghe Yachiu and former HSBC bankers for around 100 million euros. , which has the chance to become one of the most expensive sales in the history of the local market, according to Profit.ro sources from the real estate market, News.ro writes.

Expo Market Doraly, the first wholesaler in Romania, founded by Dorina and Gheorghe Iaciu in 1993, was put up for sale in 2019 as part of a strategy included in a sales contract signed in 2008 with HSBC bankers, who own half of the commercial difficult

Until recently, the Hungarian group Indotek was in exclusive negotiations to acquire the property, but did not reach an agreement and went out of business.

The owners of Expo Market Doraly have now entered the due diligence process with WDP (due diligence of the business from the legal, financial, commercial, operational and technical points of view) for the purchase of the commercial complex, according to Profit.ro sources. .

If this happens, it will be WDP’s first acquisition in the retail sector, whose portfolio is focused almost exclusively on industrial logistics facilities. Profit.ro sources say that the completion of the transaction may be postponed to 2024, as the opinion of the Supreme Council of National Defense (CSAT), which is required for transactions of more than 2 million euros by investors from outside the European Union, may be required. .

This is explained by the fact that 4.56% of WDP shares are owned by companies associated with the American group BlackRock, one of the most powerful asset managers in the world. (photo source Dreamstime)