January 18 (SeeNews) - Romanian construction company Transilvania Constructii said on Wednesday that it has acquired an industrial park worth approximately 3.5 million euro ($3.78 million) from Comalim [BSE:MALI], a company operating in the real estate and wholesale sectors.
The 16,000 sq m park located in the western city of Arad includes two warehouses, storage spaces and administrative buildings, Transilvania Constructii said in a press release.
You can subscribe to our M&A newsletter here
Through the transaction, the company continues to consolidate its position in the west of the country.
The industrial park is built on a 4.4-hectare land plot and is to be modernised by Transilvania Constructii in the upcoming period.
Transilvania Constructii is a Romanian developer, owner and manager of real estate assets, with 20 years of experience. The company owns 250,000 sq m of built-up area of industrial and commercial properties.
Comalim was established in 1991 and operates in the real estate and wholesale sectors. The company is listed on the AeRo market of the Bucharest Stock Exchange.
Comalim shares traded 10.49% higher at 17.9 lei ($3.93/3.63 euro) as of 0923 CET on Wednesday, bourse data showed.
($=0.9243 euro)