On 4 November 2016, NEPI, through its subsidiary NE Property Cooperatief UA, concluded an agreement to acquire all the issued shares in, and shareholders’ claims against, Granit Polus Laniste d.o.o. from Lobularia Ventures Limited and repay Laniste’s entire outstanding debt. Laniste wholly owns a shopping mall of 62,100 sqm of GLA situated in Zagreb, Croatia, that opened in November 2010, named Arena Centar and adjacent additional land plots of approximately 4.4 ha. The aggregate purchase price for the transaction is €237.5 million and was settled from NEPI’s existing cash resources.
The additional land plots acquired can be used for a future extension of the centre and can also support a variety of stand-alone developments, due to the highly favourable zoning parameters.
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