Broadhurst sells two more assets for over 115m euros

American investment fund Broadhurst sold another two of its assets in Romania over the last few days, the AAC (Autoclaved Aerated Concrete) producer Elpreco, based in Craiova, and a company which owns the land on the Electroaparataj Bucuresti site, in a transaction worth around 115-120 million euros in total, according to Siminel Andrei, president of NCH, the company that manages Broadhurst. Broadhurst conducted eight significant asset sales worth a total of over 325 million euros since the beginning of the year. The fund was among the first to have entered the Romanian market in the ’90s, with its initial investments amounting to 300 million dollars. Irish group CRH, one of the largest producers of construction materials worldwide, has taken over Craiova-based Elpreco, in a transaction estimated at around 70-75 million euros, a value which includes the company’s debts, according to sources close to the deal.