Spanish private equity firm GED has acquired 92% in Infopressprinting group, the biggest in South-Eastern Europe, for 12 millioneuros, a sum that will partially cover payments to suppliers andbanks, and will be used to expand operations in the region.
GED is the third investment fund to become a shareholder of thebiggest Romanian printing company, after taking over the stake fromIcelandic fund Kvos. In 2005 Kvos bought 100% in the printingcompany, for a sum put at 25 million euros from Baring CentralEuropean Fund, which had become a shareholder in the early2000's.
Infopress posted around 45 million euros in revenues in 2009,and its EBITDA stood at 3.5 million euros, with the companyestimating revenues of 57 million euros and an over 15% rise inEBITDA for this year, according to GED. The group had over 201.6million RON in overall debt at the end of 2008, according to thelatest data available from the Finance Ministry.
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