Spain's GED invests 6m euros in energy sector

GED private equity firm acquired 60% in Total Eurobusiness company, with operations on the segment of energy cogeneration projects, through a 6m-euro capital increase. GED’s total investments in the company will reach 12m euros in the following years. “The energy sector has a high development potential, supported on one hand by European funds, and also by the high number of projects in the public and private fields,” Anca Ionescu, manager of GED’s Romanian office, told ZF. Total Eurobusiness last year posted turnover worth 21.7m RON and 605,000-RON income. Prior to the deal, the company’s shareholders were Serban Tiganas, who will be CEO, with 23% in the capital, Citagodo and Amigrales Holdings companies of Cyprus, each holding 37% in the capital, with the rest belonging to Austria Prompt Service firm. A year ago, another private equity fund, RAEF, bought a micro-pellets firm near Sighetu Marmatiei in a deal worth above 10m euros.