3i to sell its 49% stake in CMU

“The participation of 3i was a success and very welcome. We managed to increase turnover from €6 million in 2006 to an estimated €16 million this year. I am unable to speculate on the yield which the investment fund obtained, as this depends on the value of its exit, if this is finalized,” said Neguţ.

The multiples of earnings before interest, taxes, depreciation and amortization (EBITDA) considered in the negotiation of the sales transaction of 10-15 prior to the economic crisis have now dropped to 5-6, according to merger and acquisition players. “The multiples have not dropped so sharply as to not have a profit, and their deterioration has not affected companies enjoying growth,” added Neguţ.