Energy trader buys office building in Piața Victoriei

Businessman Augustin Oancea, who controls an energy business with a turnover of nearly 100 million euros in 2009, has invested some of his money to acquire Louis Blanc Offices building in Bucharest’s Piața Victoriei (Victory Square) in an around 6 million-euro deal, real estate sources told ZF.

Oancea, 38, bought from Cefin Real Estate Sydus Consulting, which owns the 2,000 square-metre building located behind the Government HQ, taking on the repayment of a 4.5 million-euro loan secured from Volksbank for the construction work.
He also holds Tinmar-IND, an energy trader with 95.3 million euros in turnover in 2009 and a 2.7 million-euro net profit, which reached a 4% share of the competitive market of energy consumers in the first half of 2010, according to the company’s website. The businessman could not be contacted by the time this issue was ready for print, while Cefin representatives did not provide details on the transaction.