May 6 (SeeNews) - Romanian concrete products maker Prebet [BSE:PREB] said plans to acquire a 5% stake in local investment platform ROCA Investments for 2.1 million euro ($2.53 million).
The decision was taken by Prebet's board of directors on April 4, the company said in a statement filed with the Bucharest Stock Exchange of Wednesday.
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ROCA Investments offers solutions of capital and active partnership for the revitalisation and consolidation of Romanian businesses that are going through difficult times, for companies that have the potential for accelerated growth and need a partner in this regard, but also for companies looking to transfer business management to the hands of high-performing executives, according to Prebet.
Part of Impetum Group, ROCA was launched in March 2018 and has so far invested in various local companies such as dairy producer Artesana, fiberglass mesh manufacturer BICO Industries, honey producer and exporter Tremot, shoe manufacturer S-Karp, commercial and industrial cold technology company Frigotehnica, grains trader RDF Arad, railway electrical cables maker Electroplast, chemical company Sinteza, lunch delivery company Yellow Restaurant and port operator Romcargo Maritim.
Founded in 1904, Prebet Aiud manufactures an entire range of ferro-concrete and prestressed concrete prefabs for communication ways, railway and causeway.
Its shares were trading 3.03% lower at 1.6 lei ($0.4/ 0.3 euro) on the Bucharest Bourse at 1108CET on Thursday.
($=0.8298 euro)