Romanian entrepreneur sells several properties for EUR 7mn-8mn.

By bne IntelliNews July 15, 2011
Local entrepreneur Radu Georgescu, founder and chairman of IT company Gecad, sold several properties in central Bucharest to Euromall for EUR 7mn-8mn, Wall-Street reported. The properties have a combined surface of around 10,000 square metres. None of the parties were available for comment, the daily specified. Gecad has successfully exited two of its major investments: RAV Antivirus was acquired by Microsoft in 2003 and GECAD ePayment International by Allegro/Naspers in 2010. Strategic minority investors were also brought into Axigen and Avangate.

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