Masterplast Signs Option to Purchase T-Cell Plasztik

Analysis

Listed Hungarian building materials manufacturer Masterplast on Wednesday said it signed an option contract to buy a 76% stake in insulation maker T-Cell Plasztik, according to a report by state news wire MTI.

The option for the stake runs until three years after the publication of T-Cell's 2022 audited annual earnings report. The purchase price is set at five times T-Cell's average EBITDA in the previous two business years.

Masterplast already holds a 24% stake in T-CELL.

T-Cell had net sales revenue of HUF 3.2 billion last year, public records show. Operating profit came to HUF 269 million.

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