Penta buys 80% stake in Prague-based Masaryk Station Investment

Central European private equity and real estate firm Penta Investments has invested an amount equal to 80 percent stake in Masaryk Station Investment, which currently owns 66 percent of Masaryk Station Development; the other 34 percent is held by Czech Railways – České dráhy. The Prague deal will also involve subsequent land acquisition from the Railways for an initially agreed CZK 900 million for building up 125,000 square meters worth of gross floor area, but the deal will be renegotiated based on the considerably less land currently available for development.