The management of Electroaparataj Bucharest, the main Romanian manufacturer of low-voltage industrial equipment, will ask its shareholders to approve the devising of a project to break up the company by the establishment of a new entity to take over some of Electroaparataj''s buildings. The minority shareholders in Electroaparataj could be allowed to request that the company repurchase their shares prior to the break-up. The buildings that will be separated from Electroaparataj will be used both as offices for the running of other companies controlled by Broadhurst investment fund, the majority shareholder of Electroaparataj, and will be offered to other companies interested in buying space in the buildings in question. The fund has operated similar break-ups with other companies it owns over the last few months, such as Anticorosiv and Romlux. Electroaparataj is over 85% controlled by Broadhurst and Lindsell investment funds, both of which are managed by New Century Holdings, which operated such break-ups in some of the companies in which it held a controlling interest last year. ZF
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