Immofinanz Completes Acquisition of Romanian Adama
The Austrian real estate group has taken full control over the southeastern European housing firm, in which it has held a stake since 2007.
Immofinanz has completed the acquisition of the 69.2% stake the group does not already own in residential developer Adama Holding. Immofinanz bought the stake for € 42.4m from US-based hedge fund Tiger Global, Morgan Stanley, Lehman Brothers UK in administration, and founding shareholders. The Austrian group has held an investment in Adama since 2007.
Board Member Daniel Riedl…