Romanian pipe and bar manufacturer Grantmetal recently approved the sale of a 15,600 sqm land plot located in Bucharest’s Giulesti area. Grantmetal’s shareholders – a company listed on the Bucharest Stock Exchange (BVB) – unanimously voted the sale of the “following assets, in the company’s property portfolio: land in total area of 15,664 sqm and the 6,731 sqm building located on this land,” according to a company statement sent to BVB.

According to Romanian newspaper Ziarul Financiar, this land is to be purchased by Auchan hypermarket network to build a new store. Auchan already has two stores in Bucharest, and recently bought half of the former industrial platform Tricodava in the Western part of Bucharest from Spanish Pryconsa in a multi-million euro transaction. Auchan took over a 2.7-hectare plot and negotiated the deal for six months.

Irina Popescu, irina.popescu@romania-insider.com

(photo source: Sxc.hu)