The land is located in Bistrita, northern Romania and the sale price was set at EUR79.52 per suare meter, value added tax exclusive.
The proposal is subject to shareholder approval at a meeting due October 5.
Ario Bistria entered insolvency two years ago and is now undergoing legal reorganization.
The company has a share capital of RON13.9 million split into 3.7 million shares with a face value of RON3.7. Investment fund SIF Banat-Crisana (SIF1.RO) owns 93.64% of the company’s shares.
On August 29, Ario’s shares closed flat at RON0.57 in Bucharest.
Dedeman is a Romanian hypermarket chain offering home improvement and do-it-yourself goods. It is based in Bacau and operates 24 hypermarkets countrywide.