Romanian BSGP Holds 99.1% Stake In Fabian Romania, Offer Closed

"The offer was closed," Fabian Romania said Thursday in a press statement.

On December 19, 2008, BSGP launched a EUR37.8 million offer at EUR1 in cash for each of the company’s shares to wholly overtake Fabian Romania Limited.

On January 14, BGSP owned or received valid acceptances for 47.246 million Fabian Romania shares, representing about 92.9% of the existing issued ordinary share capital of Fabian Romania, and the offer was extended by two weeks.

Fabian was established in 2005 and targets investments in Romania’s major real estate sectors. It plans to invest in new projects as well as in the development of already existing projects.

Fabian owns stakes in 11 Romanian real estate projects, namely the office buildings Cascades, Cubic Centre, Baneasa Business Centre and Banu Antonache, Evocentre, Lakeview, Romana, and real estate complexes countrywide. The net value of properties is EUR84.6 million.

BSGP was established last November in the British Virgin Islands and is entirely owned by Rompetrol Holding.