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Romania’s largest mall has a new owner

By Anca Bernovici
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Africa Israel Investments, which owns AFI Properties, the majority shareholder of AFI Europe, present on the Romanian market with projects such as AFI Park office buildings, AFI Cotroceni – Romania’s biggest mall, a.s.o., will have a new owner. After nearly two years of long talks and several offers to take over the company, businessman Moti Ben-Moshe has won the tender to buy Africa-Israel Investments, as Israeli newspaper Globes reads.

“In the vote by the trustees of the three bondholder series, he won a very clear majority over Naty Saidoff. Only two of the 15 major bondholders reportedly voted for Saidoff,” the source shows.

The company owned by billionaire Lev Leviev, also known as the “king of diamonds,” will be taken over by Ben-Moshe, with whom he has participated in the auctions organized to save Africa Israel Investments.

According to Itzik Idan CPA, the economic advisor to the bondholders representatives, after a week of improved offers, Ben-Moshe was offering an economic value of EUR 570 – 576 million, while Saidoff was offering an economic value of EUR 563 – 564 billion.

Attending the AFI Brasov cornerstone event last September, David Hay, CEO of AFI Europe Romania, stated that AFI Properties, which owns 57 percent of AFI Europe, is a solid company with good ratings from the rating agencies and a good cash flow. “If the owner changes, this will not affect us”, Hay pointed out.

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Anca Bernovici

Anca Bernovici

I started my way in life with the intention to pursue a teaching career. But, after graduating from the Faculty of Letters – the University of Bucharest in 2004, my first job as a reporter at one of the leading newspapers in Romania changed my perspective. I have specialized in communication and communication campaigns, following the Master's courses at the Faculty of Journalism and Communication Studies (FJSC), attending a BBC Communications scholarship.
I’ve represented several important publications in Romania as business journalist, being accredited in the finance and banking field. In 2015, I had the opportunity to interview the International Monetary Fund (IMF) Mission Chief for Romania, Andrea Schaechter. As business journalist, I also had the opportunity to interview ministers for Economics and Commercial
Affairs offices within different embassies in Romania or officials of large companies investing on the domestic market.
After almost 15 years of journalism, I still want to explore new ways, to inform and stay updated. That’s why The Romania Journal project fits me so well.
Today I describe myself as a passionate about the history of world culture, having a PhD in Hebrew Culture and Civilization, after a scholarship at the University of Haifa International School, as a language addict, an environmental activist, pet lover and traveler.

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