Roca Industry Holdingrock1 S.A. (BVB:ROC1) agreed to acquire an unknown stake in Eco Euro Doors Srl for EUR 4.30 million on November 24, 2022. Roca already holds a 70% stake in EED. The deal is expected to be completed by the end of 2022.

Eco Euro Doors reported a turnover of EUR 10.49 million and an EBITDA of RON 10.9 million in the first nine months of 2022. As on December 16, 2022, concluded a €1 million loan agreement with its parent Roca Investments to enable local unit Doorsrock to pay for for 30% of the shares of Eco Euro Doors (EED). Roca Industry granted Doorsrock a 350,000 euro loan, the holding company said in a statement filed with the Bucharest Stock Exchange.

In addition to fulfilling the payment of EED shares, the loan also targets a share capital increase for Doorsrock. The 1 million euro loan was taken out by Rock Industry on December 14, while the 350,000 euro loan was granted to Doorsrock on the following day. Both loans have a 12-month maturity term and are to be repaid at the exchange rate applicable on the payment date.

After the payment of the first instalment, expected to take place on December 16, Roca Industry will acquire the exclusive ownership of EED's remaining 195,305 shares with a nominal value through Doorsrock, thus becoming the sole shareholder of EED. The second instalment will be paid by January 31, 2023 through a credit facility.