The assets to be put up for sale consist of a 1.6-hectare land in Snagov, near Bucharest, plus the constructions of the land (a filling station and warehouses), a 4,000-square-meter land and a 12-room villa in the seaside resort Jupiter, and a 166 sqm land in Bucharest with an office building.
Prefab is looking to sell these assets, which are not essential to its core business, to raise money for the company’s current activity without resorting to loans.
Prefab’s revenues declined 10% in the first quarter, to RON12.4 million, and its losses widened to RON2.2 million from RON1.96 million in the same period last year.
Businessman Marian Petre Milut owns 83% of Prefab through firm Romerica International and regional investment fund SIF Muntenia (SIF4. RO) controls nearly 13% of the shares.
Prefab traded at RON2 a share on the Bucharest stock market Monday.