The assets include land, buildings and equipment, all owned by Electromagnetica, and were sold at the price of RON33.55 million, to which VAT is applied.
The Activity Transfer Contract will be signed with the successful bidder within 30 working days from the date of signing the award report, provided the approval of the Competition Council is obtained, if necessary.
“Unless the approval is obtained in maximum 45 working days from the signing of the award report, the Business Transfer Agreement and Sale-Purchase Agreement will be concluded between the parties in maximum 5 working days from the expiry of this deadline (45 working days from the signing of the award report), under the suspensive condition of obtaining the approval of the Competition Council, the successful bidder having the obligation to pay the price in full on the date of signing the Business Transfer Agreement”, the company said in its report.
The company had a turnover of RON27.1 million in the first quarter of 2024, down 49% from RON53.2 million in the same period of 2023, and a net loss of RON3.1 million, from profit of RON3.9 million in Q1/2023.
Electromagnetica is 65.5%-owned by Infinity Capital. The company’s shares have gained 3.3% so far in 2024, amid deals worth RON5.5 million, as per stock market data.