Romanian real estate developer Iulius, owned by local entrepreneur Iulian Dascalu, earmarked RON 23.5 million (EUR 4.9 mln) in a buy-out offer for the remaining 31% shares in abrasive materials producer Carbochim Cluj-Napoca.

The offer is carried on by Carbo Europe, a wholly owned subsidiary of Iulius group, and will take place until March 6. The group, through Carbo Europe, already controls a majority stake of almost 70% of Carbochim, which means that, if the offer is successful, it would be able to delist the company from the Bucharest Stock Exchange.

This transaction is part of the group’s strategy to expand into other domains, more precisely into the production segment, the company said in a press release.

“We hold a dominant position in the Romanian real estate market, and we wanted to expand our area of expertise into production, with just as much commitment and passion. Thus, we believe that purchasing the majority shareholding in Carbochim Cluj-Napoca is a strategic decision in our activity, as well as a challenge. Carbochim has a notable experience in the field, spanning over more than 70 years, and we believe in its capacity to develop,” said Iulius owner Iulian Dascalu.

Carbochim, a company founded in 1949 in Cluj-Napoca, is a professional manufacturer of a broad range of abrasives used in the manufacturing and construction industry, as well as for general and retail use. Currently, Carbochim has developed a distribution system that covers all the geographical areas of the country, as well as commercial ties with countries such as the Czech Republic, Poland, Hungary, Switzerland, Belgium, Germany, and Italy.

Iulius is one of the biggest real estate developers and operators in Romania, with a portfolio of more than 300,000 sqm of retail premises and 146,200 sqm of office spaces.

editor@romania-insider.com

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