Oresa buys 3 plants for 32.5m euros from Somaco

Swedish investment fund Oresa Ventures will acquire three production facilities that belong to construction materials producer Somaco (SOMZ), based in Bucharest. The deal includes the Somaco subsidiaries in the towns of Roman, Adjud and Buzau, which own 43 hectares of land, buildings that cover 100,000 square metres and employ 500 people. The subsidiaries will be taken over by Oresa-held Sonriso Investments, according to a report published on the RASDAQ market. The deal will be sealed on August 10, with the buyer to pay 22.5m euros upon the signing of the contract, and the remaining 10m euros within 3 years. This is the second major deal concluded by an investment fund on the construction materials market this year, after the announced takeover of the Simcor Oradea group by Polish Enterprise Fund, in a deal estimated at 60m euros.