GED invests 6 million euros in energy sector in Romania

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Spanish private equity GED has bought 60 percent of Total Eurobusiness Co, active on the segment of projects of energy co-generation, by an increase of capital worth 6 million euros, with the total investment of the company being forecasted to reach 12 million euros in the coming years.

Co-generation is the combined production of electric energy and thermal energy, with the main advantages being the energy efficiency and fuel saving.

The energy sector has a high development potential, supported on the one hand by the accessing of European funds, as well as by the high number of projects in the public and private field,” said for daily Ziarul Financiar, Anca Ionescu, director for the GED office in Romania.

Total Eurobusiness ended last year with a turnover worth 21.7 million lei and a profit worth 605,000 lei.
Prior to the transaction, the shareholders of the company were Serban Tiganas, who will hold the position of executive manager, with 23 percent of the capital, Citagodo Co and Amigrales Holding, from Cyprus, with 37 percent of the capital, and the rest held by Austria Prompt Service Co.

A year ago, another fund of private equity, RAEF, bought a factory of micrope lets close to Sighetu Marmatiei, following a transaction of more than ten million euros.

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