Impact borrows 8.5m euros from Piraeus Bank

Shareholders of the real estate development company Impact, have approved a decision to change the creditor that the company had contracted a loan with, worth 8.5 million euros, for the construction of the Construdava office building. Impact took out the loan from Piraeus Bank, after having originally selected Banca Comerciala Romana ( Romanian Commercial Bank) as its lender. The loan was contracted at the beginning of this year, after it had been approved in the General Meeting of Shareholders in October 2005. Impact has recently borrowed another 13 million euros from Piraeus Bank to fund the acquisition of a 26-hectare plot in the Southwestern part of the Capital, where it intends to develop a 150 million-euro real estate project.