Lion`s Head and WDP re-enter the Race for P3 Bucharest

The P3 company resumed the sale process of the logistics park near Bucharest after the Competition Council rejected P3’s transaction with CTP last year due to anti-monopoly restrictions. If CTP had bought P3 Bucharest A1, then the real estate developer’s portfolio would have increased to over EUR 3.3 million and would have been close to the 50% threshold of the Romanian industrial/logistics market.

Before reaching an agreement with CTP, WDP, Lion`s Head Investments and the Accolade group from the Czech Republic had also entered the race to acquire the logistics park. Now, with the resumption of the sale process, only WDP and Lion`s Head have shown their interest in the acquisition.

The two companies currently in the race are in the due diligence process, after which P3 will enter into an exclusive agreement with one of them and the transaction will be presented to the Competition Council for validation. P3’s target is to finalize the sale and exit the market by the end of the year. The sale price remained the same as in the first round, i.e. approximately EUR  250 million.

Source: Profit.ro