Cristi Borcea, the chief executive of Dinamo Football Club has sold 20% of the professional cleaning company Romprest Service, in a deal involving the 3i investment fund, which received a 30% stake in the company responsible for providing cleaning services at Otopeni Airport.
Cristi Borcea, who also owns shares in LPG distributor Crimbo Gaz refused to comment on the nature of the deal by the time ZF was ready for print.
The 3i investment fund - a world giant in its line of business - bought 30% in Compania Romprest Service, which specialises in cleaning, sanitation, maintenance and road and building repairs. The fund also retained the right to buy the remaining shares.
According to market sources, Romprest Service was appraised at more than 30 million euros, which makes a transaction involving 30% of the shares worth over 9 million euros.
The seller was Detaco LLC, controlled by domestic businessmen and registered in the US, which sold 30% and retained 60%. The rest of the shares (10%) are held by the Compania Nationala Aeroportul Henri Coanda Bucuresti SA, according to Trade Registry Data.
Prior to this deal, Detaco had bought 20% from Cristi Borcea.
3i can boast its second deal on the market, after having signed with the shareholders of Centrul Medical Unirea (Unirea Medical Centre - CMU) for the acquisition of an approximately 47% stake in the company.
The takeover of Centrul Medical Unirea is regarded as the biggest transaction on the market of private medical services, and is estimated at over 10 million euros.
As with CMU, the investor will handle this deal through the regional branch of 3TS Capital Partners.
3TS Capital Partners manages 166 million euros in funds and is one of the biggest such companies in Central and Eastern Europe, with offices in Budapest, Bucharest, Prague, Vienna and Warsaw. The company's shareholders include its management team, 3i and Sitra.
Contacted by ZF, Romprest officials stated that they intend to make public the details of shareholder changes soon. 3TS representatives were unavailable for comment on the matter.
According to the latest information available, Romprest Service ended 2005 with 16.7 million-euro turnover and a 0.9 million-euro net profit. The company had 1,800 people working for it at the end 2005, and currently employs 2,400 people full time, according to data available on the company website.
Romprest has operations in Germany, where it opened three offices starting in November 2002, in Munich, Nuremberg and Wurzsburg.
Its customers include "Henri Coanda" International Airport in Bucharest, the Cora hypermarket, Transelectrica, the Environment Ministry and Eurial Invest.
It also has a contract worth almost 41 million dollars (37 million euros) with CFR Calatori, which it won after a tender on the Romanian Commodities Exchange. The contract was signed in 2004, for a period of ten years.
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