LONDON (ShareCast) - (ShareCast News) - AIM-listed Globalworth Real Estate Investments is to buy an automobile warehouse in Romania for about €42.5m (£35.9m), subject to regulatory approval.
The acquisition depends on clearance from the Romanian Competition Council and approval from the property's existing lender.

The warehouse, about 100km west of the capital Bucharest, is currently leased to Dacia, a Romanian car manufacturer part of France's Renault Group, on a long term basis.

It is near Pitesti highway, one of Romania's principal warehouse and industrial corridors and is 28km away from Dacia's main plant in Mioveni, Arges County.

Spanning about 68,000 square metres, the company claims that the warehouse is also one of the largest distribution centres of Renault Group for spare parts and accessories outside of France.

Shares in Globalworth Real Estate Investments were down 7.41% to 6.25p at 1154 GMT.

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