Austrian group Supernova, specialized in developing retail parks, took over CA Immo's stake in a retail project in Sibiu, central Romania.

CA Immo and partner Oasis Development planned to develop this project on an 18-hectare plot purchased before the crisis in 2008-2009.

Supernova and Oasis Development will invest EUR 15 million from their own resources in the project's first stage, which includes a hypermarket and a shopping gallery stretching over 15,000 sqm, local Profit.ro reported. Later, a EUR 30 million bank financing will be used for further expansion.

Oasis Development is controlled by local entrepreneurs Klaus Reisenauer and Kurt Wagner, who have invested over EUR 80 million in their own real estate projects in Romania and EUR 40 million in Germany. The two started by building hypermarkets for Kaufland and Plus (later bought by Lidl) in Romania. Supernova manages assets worth over EUR 1 billion.

editor@romania-insider.com

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