Romaco’s new ownership structure strengthens its position on international markets
China’s Truking Group is set to become the new owner of the Romaco Group. The relevant contracts were signed recently by Deutsche Beteiligungs and the Truking Group.
Deutsche Beteiligungs sold 75.1 per cent of its shares in the Romaco Group to the Chinese Truking Group (Truking), an engineering company which is majority owned by its founder and has already floated part of its shares on the stock market. The remaining shares of DBAG will be sold over the next three years. The transaction is still subject to regulatory approval.
DBAG board member D. Rolf Scheffels commented, “The sale successfully implements a buy and build concept which we had worked out with management at the very beginning of our involvement. DBAG, in its role as a Romaco Group shareholder, played a key part in supporting the strategic development of the corporate group and made a decisive contribution to strengthening Romaco’s worldwide position. In Truking, we have found a buyer that wants to invest in the Group’s global expansion and to further enhance Romaco’s pharmaceutical profile.”
Yue Tang, Chairman, Truking emphasised, “We are confident that the acquisition of Romaco represents a win-win situation for all the parties concerned. Romaco will benefit from the change in ownership through an increased share of the Chinese market and Truking will also be able to exploit outstanding opportunities for growth on European and transatlantic markets.”
Paulo Alexandre, CEO, Romaco Group said, “We have held very positive talks with the new owners regarding the future of the Romaco Group and we are confident that Truking is the right partner to pursue our Group’s internal and external growth. The product portfolio and the regional strengths of both companies complement each other very well without any overlapping. There are also attractive growth opportunities for Romaco in China.”
“Romaco will continue to have a completely free hand to pursue its business objectives. This autonomy includes the entire value chain, from product development through to customer service. Work will simultaneously continue on developing the importance of the Romaco Group’s recognised global brands.”