Globalworth Real Estate Investments, controlled by Ioannis Papalekas, has acquired full ownership of Tower Center International, the second tallest office building in Bucharest. Globalworth and Romanian businessman Dragos Baileatnu bought the building in August 2012 for €58m. Papalekas has agreed to pay Baileatnu €11.6m for his stake in the building. As part of the deal, Baileatnu will also get 200,000 Globalworth shares at €5 per share. Globalworth’s deputy CEO and chief investment officer, Dimitris Raptis, said the Tower Center is a benchmark asset for the company.
