Austrian Atrium European Real Estate has expanded its portfolio in the Czech Republic after it bought Palac Flora shopping mall in Prague for EUR 191mn, the company said in a statement. Atrium bought the mall from AFI Europe and Avestus Capital Partners. Palac Flora, opened in 2003 has a retail area of 20,000 sq m. The acquisition was financed through a mixture of equity and debt and is in line with Atriums strategy to focus on investments in the Czech Republic, Slovakia and Poland. The purchase will increase the value of Atriums income-producing portfolio to EUR 2bn ranking the Czech Republic the companys second-biggest market by assets after Poland, accounting for 23% its portfolio. Atrium owns 98 properties in the Czech Republic. |
Social Democrats (CDDS), the major Czech opposition party, proposed next year's general and European elections to be held on the same day, CTK news agency reported. CSSD leader Bohuslav Sobotka ... more
The Czech unit of UK retailer Tesco faces a fine of up to CZK 3mn (EUR 116,000) for selling beef lasagne containing undeclared horsemeat, Radio Prague reported. The state-run Agricultural and Food ... more
The upper house of the Czech parliament, the Senate, voted on March 20 a constitutional amendment to limit the immunity of lawmakers and constitutional judges, Radio Prague reported. Out of the ... more