AFI looking to postpone €300m NEPI Rockcastle office deal

AFI Europe has asked that its €300m takeover of NEPI Rockcastle’s Romanian office portfolio be postponed, citing the number of restrictions the government has put into place following the coronavirus outbreak. The deal was supposed to close by March 31. However, NEPI Rockcastle claims it fulfilled its contractual obligations despite the state of emergency and alleges it can terminate the sales contract, which was signed at the end of last year. NEPI Rockcastle is seeking €15m in compensation. AFI is arguing that the move is illegal, and it still wishes to complete the deal once the state of emergency is over.