ZF English

Tender discussing acquisition of Codecs training provider

28.03.2010, 19:34 17

Businessman Ovidiu Tender, who controls the Tender group, with250 million dollars in business and 10,000 employees, is in talksto take over the majority interest in Codecs, one of the leadinghuman resources training and consultancy company on the localmarket, whose business stands at 4.7 million euros in 2008.

"We are in talks. We should strike the deal in no more than onemonth," Tender told ZF without providing any details about theprice.

"I believe employee training is a stringent necessity for abusiness," the businessman said, commenting on his decision to buya training company.

The latest information about Codecs' sale became available atthe beginning of the year, when a real estate investor made anoffer to pay 350,000 euros for 51%. The deal eventually fellthrough. The company had 2.5 million euros in debt at the beginningof the year, 1.5 million euros of which in form of a bank loan,with the rest of the sum made up of debt to suppliers, sources say.

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