Lehman Brothers buys 3% of Impact

Lehman Brothers Real Estate Partners (LBREP), the real estate investment division of the American investment bank Lehman Brothers, has purchased a 3.08% stake in the real estate development company Impact (IMP) from the company’s chairman, Dan Ioan Popp, in a 9.62 million-euro transaction conducted on the Stock Exchange. Popp sold an over 5% stake of Impact’s shares on the Stock Exchange on Thursday and collected around 16 million euros. In addition to the 3.08% stake sold by Lehman Brothers, Popp sold an additional stake (above 2%) of Impact on the market, to an unknown buyer. Following these sales, Popp now holds a 25% stake in the company. “I’ve sold around 5% of the company,” Popp told ZF, specifying that two important buyers were involved. Impact’s financial manager, Carmen Sandulescu, also sold around 1% in the company for 3.14 million euros. The transactions were conducted at 1.05 and 1.06 RON/share respectively, which places the company’s value at around 316 million euros. Over the last week, Impact shares fluctuated at around 1.05 RON, the price at which the shares were subscribed as part of the capital increase.