ROMANIA – GED backs Total with EUR 12m

The investor has initially provided EUR 6m in return for a 60% stake in the business, with the remaining EUR 6m to be provided next year as part of efforts to expand the business in energy production.

Total Eurobusiness has been operating in Romania since 2004 and in 2005 was named primary distributor for cogeneration motor production at General Electric. The firm achieved turnover in 2008 of EUR 7m and expects sales to increase by 20% this year. It expects to double its revenues in 2010.

The deal marks the third for GED this year, with the other two in Romania and Portugal.

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• Topics
• Expansion
• CEE