Romanian river transport company TTS to take over port operator for EUR 22 mln
The river carrier Transport Trade Services (BVB: TTS) announced on February 17 in a note to investors that it plans to buy an unidentified port operator for the sum of EUR 21.8 million, with the payment to be made in a single instalment at…
Andrei Chirileasa · Journalist
· Updated · 1 min read
The river carrier Transport Trade Services (BVB: TTS) announced on February 17 in a note to investors that it plans to buy an unidentified port operator for the sum of EUR 21.8 million, with the payment to be made in a single instalment at the conclusion of the contract.
The target company is Decirom, according to Ziarul Financiar, quoting sources familiar with the deal.
Decirom is 43.4% owned by Fortaletza Management, a company controlled by Vincente Jose Antonio Perez, and 42.5% by Roumanie Industries Ciments Offshore from Lebanon. The Spanish company Rotracsa (13.6%) and Black Sea Invest Company (0.4%), also controlled by Fortaletza Management, are also shareholders of Decirom.
Decirom reported a net profit of EUR 407,200 in 2021, 69.5% more compared to the net result in 2020, while its turnover rose by 11.7% YoY to EUR 5.4 mln.
(Photo source: Facebook/TTS (Transport Trade Services))
