40% of Arcom's shares up for sale

Arcom Bucuresti, one of the biggest Romanian construction companies, has put up for sale around 40% of its shares, which are held primarily by current and former employees. Arcom is under negotiations with Spanish constructions company FCC Construccion and with both Dutch and British investment funds for the sale of a majority stake, according to market sources. Arcom shareholders have not commissioned an appraisal of the company yet, but the company’s value could total between 40-50 million euros, according to industry estimates. “There are shareholders holding 30-40% stakes, who have expressed the intention of selling their shares in Arcom. This year’s strategy is to focus exclusively on big contracts, of over 4-5 million euros, in order to increase the company’s profitability,” Florian Florescu, financial manager of Arcom, told ZF.