Merrill Lynch co-owns MPC Properties
Merrill Lynch has become the co-owner of the MPC Properties development and construction company.
Tuesday, 08.01.2008.
11:59
Merrill Lynch has become the co-owner of the MPC Properties development and construction company. The Belgrade-based company did not wish to state the exact percentage of the company shares bought by the American company, but they said that the contract is the first strategic-business partnership for Merrill Lynch on the territory of the former Yugoslavia. Merrill Lynch co-owns MPC Properties “With the signing of the contact, which came about after months of negotiations, the foundation has been laid for a united expansion in the region and an increase of investments,” MPC stated. Roger Barris, the European Head of Merrill Lynch's Global Principal Investment, said that the bank was looking for a quality local partner in Serbia and confirmed that MPC Properties satisfies its criteria and even exceeds them. “The partnership of Merrill Lynch and MPC Properties is significant for Serbia, because it is a good indicator that trust exists from foreign investors for investment and the further development of the Serbian market,” he said. MPC Properties is currently building the 130,000 square meter Usce shopping center, worth EUR 150mn. It is also building a twin business center next to the existing one, valued at EUR 40mn. According to MPC, it plans on building several more shopping malls in Belgrade. Merrill Lynch is one of the leading international companies for administering client properties, with offices in 38 countries and a total client capital worth almost USD 1,8bn. As an investment bank, it is a leader in trade and insuring securities, as well as dealing with the consulting of corporations, governments, government institutions and individuals.
Merrill Lynch co-owns MPC Properties
“With the signing of the contact, which came about after months of negotiations, the foundation has been laid for a united expansion in the region and an increase of investments,” MPC stated.Roger Barris, the European Head of Merrill Lynch's Global Principal Investment, said that the bank was looking for a quality local partner in Serbia and confirmed that MPC Properties satisfies its criteria and even exceeds them.
“The partnership of Merrill Lynch and MPC Properties is significant for Serbia, because it is a good indicator that trust exists from foreign investors for investment and the further development of the Serbian market,” he said.
MPC Properties is currently building the 130,000 square meter Ušće shopping center, worth EUR 150mn. It is also building a twin business center next to the existing one, valued at EUR 40mn.
According to MPC, it plans on building several more shopping malls in Belgrade.
Merrill Lynch is one of the leading international companies for administering client properties, with offices in 38 countries and a total client capital worth almost USD 1,8bn.
As an investment bank, it is a leader in trade and insuring securities, as well as dealing with the consulting of corporations, governments, government institutions and individuals.
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