22:25 2 March 2020
REINO and RF CorVal buys BUMA Group's operating business
Stock exchange holding company REINO Capital and the RF CorVal Group, part of which is the construction company Roberts Construction, have signed a preliminary agreement to acquire BUMA group operating companies. It consists of, among others, development company, general contractor, Property Manager and Facility Manager.
The companies acquired by partners in equal proportion will become buyer subsidiaries, which for REINO Capital marks a milestone in the implementation of business development strategies, and for RF CorVal Group a foothold of expansion into European markets.
The average annual accumulated value of revenues of the acquired companies has been in recent years approx. PLN 300 million.
“The acquired companies have been operating on the market for more than 25 years. From REINO capital's perspective, this is the best scenario for completing the holding in the most favorable and safest way possible for shareholders. Also due to the investment platform being built in parallel, which is a natural source of orders, the scale of which will increase with the acquisition of further properties financed by passive investors,” Radosław Świątkowski, president and co-founder of REINO Capital Group, said.
(Property News)
