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Enterprise Investors contemplates exit from Macon Deva in three years

28.07.2008, 18:26 13

Polish investment fund Enterprise Investors, which owns construction materials producer Macon Deva, might exit the company in 2011, after it recently bought Simcor Oradea in a deal worth 53 million euros. The Poles will invest some 17-18 million euros in expanding Simcor Oradea's production capacity. "We want to create a powerful player on the aircrete market, and later sell it to either a strategic investor or through a public offering on the Stock Exchange. The acquisition of Simcor was much more expensive than Macon's two years ago, but the construction materials market is constantly increasing," said Cristian Nacu, partner of Polish investment fund Enterprise Investors. Enterprise Investors forecasts that the business of the companies will grow, by 60% in RON from 2007 through 2011 and reach 202 million RON (Macon) and by 56% to 144 million RON (Simcor).

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