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Romanian Romcarbon To Develop Recycling Activity At Three Firms

Romanian plastic systems maker Romcarbon Buzau (ROCE.RO) plans to draw capital for the development of activity at three firms where it holds stock in association with investment fund South Eastern Europe Fund, managed by Global Finance.

Andrei Cîrchelan · 16 decembrie 2011 · 1 min de citit

The operation, which aims to develop recycling firms Greentech and Greenfiber International (where Romcarbon holds some 32% of stock), as well as Greenweee International (where Romcarbon holds 54.5%), was approved Thursday, according to a notification posted on the Bucharest bourse.

The transaction will be concluded between Romcarbon and Green Group Romania Holdings, part of South Eastern Europe Fund.

In the first phase, Romcarbon will increase the share capital of Cyprus-registered Recyplat to EUR26,000 from EUR16,000, by issuing 10,000 shares with a face value of EUR1. As sole Recyplat shareholder, Romcarbon will join the share capital increase with a contribution in kind, consisting of the shares held in Greentech, Greenfiber and Greenweee, worth a total 20.7 million lei (EUR4.78 million).

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