A company controlled by Bucharest’s District 3 City Hall will take over local Delta ACM 93, one of the biggest construction companies in Romania.
The value of this transaction is RON 1 (21 eurocents) for 51% of the shares, local Profit.ro reported.
Delta ACM 93, founded and controlled by Romanian investor Florea Diaconu, had a turnover of over RON 254 million (EUR 55.6 million) in 2017. The company had RON 316 million (EUR 68 million) worth of debts at the end of 2017.
Delta ACM has won many public work contracts in the past, being involved in the construction of the subway line five connecting Bucharest’s Drumul Taberei residential area to the city center. The company also revamped the pedestrian underpass in University Square and refurbished the Alexandru Ioan Cuza park (IOR) in District 3.
(photo source: Pexels.com)