The transaction will reduce the operational and credit risk exposure of the group “in geographical areas which have proven to be challenging,” Blom said in a statement Tuesday.
“Blom ASA has signed an agreement to divest its Romanian subsidiary Blom Romania SRL to the Danish engineering company Rambøll A/S,” the statement reads.
The deal is expected to be completed in the first quarter of next year, after the two companies get approval from Romania’s antitrust body.
The transaction does not include the activity of Blom International Operations SRL.
The company operates a data center in Targoviste and has offices in Constanta, Bucharest and Cluj. It employs 450 people in Romania, according to the website of Blom Group.