My Romania > Romanian entrepreneur launches £12.6m bid for Rutley European ...

[Daily news from Property Week] Patriciu's Black Sea Global Properties, which in April kickstarted its European property expansion by completing the €50.8m takeover of AIM-listed Fabian Romania, has made a £12.56m cash bid for Rutley European and subscribed for 94.9m shares in Deutsche Land as part of a wider placing of shares by the AIM-listed German investor.

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[Financial news from Property Week] Black Sea submits Rutley European Property bid ”¦ - Property Week: Although Black Sea Global faces up to six rival bids for Rutley European, it has just succeeded in taking over and delisting Fabian Romania, the AIM-listed Romanian property investor, in a €50.8m purchase. Black Sea Global paid €1 a share in cash for Fabian, which was a huge 40% discount to its 30 September net asset value of €1.66 a share.

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