The agreement was concluded with Fyn Invest Danmark, a Romanian limited liability company, for the acquisition of a company operating approximately 800 hectares of land (property and lease).
“The acquisition includes storage and logistic spaces, autumn crops (wheat cultivated on approximately 370 ha), as well as spring crops, the latter to be agreed with the seller prior to cultivation period. The new acquisition will increase the total production of the Company with approximately 10%, taking into account both an extensive and an intensive component generated by the quality of the operated land,” the report reads.
The report does not mention the value of the transaction or the company targeted by the acquisition. The company will subsequently inform the capital market in a separate report of the completion of the transaction.
Grup Serban Holding reported consolidated revenue of RON275.2 million in the first half of 2022, up 71% on the year, and a turnover of RON240 million, up 97% on the year. Its EBITDA stood at RON20.5 million on June 30, 2022, up 13% on the year, while its net profit reached RON6.8 million, up 40% versus the first half of 2021.
Grup Serban Holding has a market value of RON319.7 million and is 95.8% held by Nicolae Serban, Chairman of the Board of Directors and Chief Executive Officer.
GSH shares have gained 4.8% since the beginning of 2023, amid deals worth RON770,300, as per stock market data.