English
• The retail centers have been developed by a joint-venture between Aura Investments and GTC
Israeli developer Aura Investments sold 37% of its stake in the joint venture with GTC to the latter, in exchange for the cancellation of a debt of EUR 13.6 million, according to a statement Aura sent to the Tel Aviv Stock Exchange, quoted by Mediafax.
According to the agreement between the two Israeli companies, Aura will see its stake in the joint venture NCC, registered in Holland, cut from 50% to 13%.
Aura and GTC (part of the Kardan group) are involved in a joint venture which is developing a retail chain which comprises six locations in Romania. Three of those centers have already been opened (Suceava, Buzău and Piatra Neamţ). The other three will be developed in Arad, Bistriţa and Galaţi.
Aura Investments is part of the Israeli company Aura Group and has been incorporated in Luxemburg, with operations in Central and Eastern Europe (such as Romania and Hungary) and in the Community of Independent States.
In 2007, the EBRD and GTC signed an EUR 80 million financing agreement intended to back the development of GTC and Aura"s Romanian retail projects. Aura is also developing residential projects in Romania, and GTC is well known in Romania after developing and selling the office buildings America House and Europe House, located in Victoriei Square, as well as for the Rose Garden residential complex located in the Colentina neighborhood in Bucharest.
Euro
Dolar SUA
Franc elveţian
Liră sterlină
Gram de aur
