Reconstruction Capital II to invest in Romania

Reconstruction Capital II, a closed-end investment company, has agreed to buy a stake in two Romanian-focused investment funds for a combined payment of €3.3m.

The funds' main underlying asset is a 60% shareholding in Policolor, a Romanian producer of paints, resins and chemicals with a real estate portfolio in which RC2 already owns the balance of 40%.

RC2 has agreed to acquire 22% of the issued share capital of Reconstruction Capital for €1.6m and 10% of the issued share capital of The Romanian Investment Fund for €1.7m.

Both acquisitions are subject to RC2 shareholder approval.

At 1:48pm: (LON:RC2) Reconstruction Capital II Ltd share price was -0.01p at 0.19p