Kingspan Group plc (ISE:KRX) reached an agreement to acquire Terasteel S.A., Terasteel d.o.o. and Wetterbest SRL from Teraplast S.A. (BVB:TRP) for RON 410 million on July 24, 2020. The consideration may be adjusted downwards as at the date of completion based on the following formula: headline price, plus actual working capital, minus target working capital, plus actual cash, minus actual indebtedness. The consideration will be paid in cash by Kingspan Group plc to Teraplast S.A. (BVB:TRP). For the year ended December 31, 2019, the steel division reported revenues of approximately RON 580 million and EBITDA of RON 50 million. The transaction is subject to a set of customary suspensive conditions, including approval by the relevant competition bodies and TeraPlast's shareholders. As of August 31, 2020, shareholders of Teraplast approved the transaction. As of January 12, 2021, Teraplast received approval from European commission for TeraSteel SA and Wetterbest and for TeraSteel Serbia approval is still pending from the Serbian Commission. As of February 12, 2021, Teraplast received approval from Serbian Commission for TeraSteel. As of February 15, 2021, the transaction is expected to close on February 26, 2021 and the initial consideration shall be determined and paid.

Nadia Badea, Mihai Macelaru, Alexandra Voicu and Maria Ciulica of Clifford Chance acted as legal advisor to Kingspan Group PLC. Madalina Neagu, Narcisa Oprea, Alexandra Munteanu, and Vlad Sandulescu of Schoenherr Romania acted as legal advisor to TeraPlast in the transaction. Radu Dumitrescu, Ioana Boca, Miruna Ciocea, Ionut Vasilescu, Dan Badin, Ioana Nastase and Andreea Maruntelu of Deloitte Audit S.R.L. acted as accountant for Teraplast.

Kingspan Group plc (ISE:KRX) completed the acquisition of Terasteel S.A., Terasteel d.o.o. and Wetterbest SRL from Teraplast S.A. (BVB:TRP) for approximately RON 370 million on February 26, 2021. The shares of TeraPlast in TeraSteel Romania and Serbia, respectively Wetterbest, were transferred to Kingspan, at which point the transaction price of RON 373 million was paid.