Radovan Vítek, owner of CPI, wants a majority share in Orco. His companies, Crestline Venture and Gamala, have acquired an almost 21-percent share in the developer over the past few weeks, according to the economic daily Hospodářské noviny. A change in the ownership structure is expected to be announced soon.
Orco’s German branch sold the Sky Office highrise in Düsseldorf this week to Allianz Real Estate for an undisclosed price. Sales rose 1.5 percent to CZK 72.99 in Prague yesterday. Orco also announced five German banks promised to refinance €284m in debt. The banks will give the company a €271m club loan, with the additional €13.5m to be secured by Orco Germany.
