Hungarian-based ASA group is in talks to sell its operations in both Hungary and Romania, in a deal worth around 100 million euros, according to market sources.
The most advanced negotiations are with Finnish group Consolis, the largest prefab manufacturer in Europe, with turnover worth over 1.4 billion euros, a company that was previously interested in taking over Bucharest-based Somaco, according to the cited sources.
ASA holds a concrete prefab plant (used for manufacturing columns, beams, and for building foundations) in Turda and is one of the leading manufacturers of concrete prefab materials on the local market. The Romanian subsidiary posts annual turnover worth 25 million euros, about a quarter of the group's business, according to the latest available data. ASA representatives have neither confirmed nor denied negotiations with the Consolis group.
"The ASA group has been contacted by several investors interested in taking over our group. At present, negotiations are underway, and strict confidentiality clauses are in place," ASA representatives told ZF.
Consumption of concrete prefab materials has seen a major increase following the volume of investments in shopping centres and in infrastructure. ASA Cons clients include food retailers and retailers involved in the construction materials sector, such as Metro, Selgros, Cora, Kaufland, Praktiker and BauMax.
ASA Cons Romania was set up in 1999, via the entry onto the Romanian market of ASA Epitoipari Kft. in Hungary, which holds 99.86% of the company's shares. 10 individuals, who are company employees, hold the remaining 0.14%. ASA Cons Romania's employees rose from 62 people in its first year in business to over 370 people last year, according to the latest available data.
The Consolis group posted net sales worth over 1.4 billion euros last year and operates over 130 plants in 20 countries. The Finns have recently made an acquisition in Poland, where they purchased a producer of concrete prefab for railway tracks, and intend to penetrate the Hungarian and Romanian markets.
The sector of concrete prefab materials has become increasingly attractive to foreign players over the last few years, especially to investment funds. Swedish investment fund Oresa Ventures is close to signing an acquisition contract for three plants of construction materials manufacturer Somaco Bucuresti, a deal worth 32.5 million euros.
In 2006, Polish-based Enterprise Investors took over Macon Deva, another major player that operates on the concrete prefab market, for 35 million euros.
Transactions on the constructions market have come in rapid succession lately, as this is one of the most attractive markets in the economy.
ASA group
Hungarian-based ASA group is in negotiations to sell operations in Hungary and Romania, in a deal worth around 100m euros, according to market sources
The most advanced negotiations are with Finnish group Consolis, the largest prefab manufacturer in Europe, with turnover worth over 1.4bn euros, and over 130 plants in 20 countries
ASA holds a concrete prefab plant (used for manufacturing poles, beams, and building foundations) in Turda and is one of the leading manufacturers of concrete prefab materials on the local market
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