Dom Development has bought all the shares in the seven companies that comprise the Buma Group from the Giovanni fund for PLN 151.4 million.
The total value of the transaction comes to PLN 209.5 mln including taking on PLN 58.1 mln of the group’s debts to the fund. Dom Construction, a fully owned subsidiary of Dom Development has also acquired all the shares of Buma Contractor 1.
As part of the transaction, Dom Development has acquired land for 1,300 apartments in Kraków and 224 apartments currently under development. The assets also include PLN 51.5 mln in cash with PLN 1.9 mln in bank loans. Dom Development has also signed a conditional contract to buy all the shares of RSKK for PLN 9.6 mln.
Greenberg Traurig advised Dom Developer on the purchase.
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