Plaza Centers seeks EUR 262 mln compensation from Romanian state for delays of Casa Radio project

Plaza Centers is asking for compensation of EUR 262 million from the Romanian state for the delay of the Casa Radio project in Bucharest. The company hired lawyers from London earlier this year to represent its interests, and the agreement to sell its stake in the project to AFI Europe has been extended until the end of this year. This is the second extension of the term, after the date of 31 December 202 was set in November last year.

In the summer of 2019, AFI Europe signed the pre-contract for the sale-purchase of the Casa Radio project. Plaza Centers was to sell to AFI the 75 percent stake in the Casa Radio project.

AFI Europe has paid an advance of EUR 200,000, and Plaza Centers will return the money if it enters into litigation or loses the rights of the Public-Private partnership with the Romanian State for the Casa Radio project.

Source: Economica.net