"The value of the transaction reflects what we wanted, it was of the order of tens of millions of euros," told Ziarul Financiar Marinică Potop, one of the two founders and shareholders of Sarcom paints and varnishes plant sold to investment fund ROCA, a specialist of distressed assets.

The size of the deal is of the same magnitude as the value of ROCA before the deal.

In early 2021, local prefabricated elements producer Prebet reached an agreement to buy 5% in ROCA for EUR 2.1 mln without shareholder's permit in a controversial deal. Nicolae Ratiu, Prebet's former chairman, accused the current head of the board, Mathe Francisc, of forcing a deal under which Prebet would pay 2.5 times the book value for the 5% stake in the investment fund, thus implying a value of under EUR 17 mln.

Marinică Potop will remain involved for another year in the company's transition to ROCA, and he envisages starting a new business afterwards.

ROCA confirmed the takeover of 100% in Sarcom, one of the largest producers of paints and varnishes in Romania.

iulian@romania-insider.com

(Photo source: ROCA)