Romanian paper tissue producer sells stake to Abris Capital Partners

Local businessman Ioan Tecar, the owner of the group MG-Tec, sold a stake in four of the group’s companies to investment fund Abris Capital Partners. The fund owns in Romania the Urgent Cargus courier. The Competition Council is currently analyzing the transaction. The four companies include tissue paper producer Pehart Tec, construction material distributor Metalicplas Distribution, wire rod processor Metalicplas Impex and construction work producer Samus Constructii. The four firms posted in 2013 a total turnover of almost EUR 114 million. The group MG-Tec has a yearly turnover of EUR 130 million and over 1,000 employees. editor@romania-insider.com