“Consequently, on October 23, 2020, the transaction for the acquisition of the stake representing 99.92% of the share capital of DOOSAN IMGB S.A. was completed, by transferring the ownership of the shares to Depozitarul Central (Central Depository),” SIF Banat said in a stock market statement.
On September 4, 2020, SIF Banat-Crisana signed the sale-purchase agreement and on October 22, 2020, the Competition Council issued the non-objection decision regarding the economic concertation operation carried out by SIF Banat-Crișana acquiring the control over DOOSAN IMGB S.A.
SIF Banat-Crisana was assisted by law firm Biris Goran SPARL and real estate consultancy firm Crosspoint Real Estate.
Doosan said at the end of 2019 it planned to shut down the platform and definitively halted production in 2020, terminating employment for 400 employees.
In 1989, IMGB’s production unit employed around 13,000 people. The industrial platform was set up in 1963.
Doosan IMGB reported a turnover of RON249 million and losses of RON25 million in 2018.