Dom Development has bought all the shares in the seven companies that comprise the Buma Group from the Giovanni fund for PLN151.4M.
The total value of the transaction comes to PLN209.5M including taking on PLN58.1M of the group’s debts to the fund. Dom Construction, a fully owned subsidiary of Dom Development has also acquired all the shares of Buma Contractor 1.
As part of the transaction, Dom Development has acquired land for 1,300 apartments in Kraków and 224 apartments currently under development. The assets also include PLN51.5M in cash with PLN1.9M in bank loans. Dom Development has also signed a conditional contract to buy all the shares of RSKK for PLN 9.6M. Greenberg Traurig advised Dom Developer on the purchase.
