Australian investor RF Corval has pulled out of a planned joint buyout of Polish industrial and office park developer Buma, Polish fund manager Reino Capital announced in a statement to the Warsaw Stock Exchange. The proposed €287 million (PLN 1.3 billion) takeover was originally announced in November.
As a result, Reino is also pulling out of its previous agreement to buy shares in Buma companies but maintains that intends to expand into this sector of the Polish market in the future, possibly in cooperation of other partners.
