Contacted by MEDIAFAX, the former president and current manager, member of the Executive Board of Alcedo group, Nicolae Sandulescu, as well as the current president, Vicentiu Cremeneanu, refused to confirm or deny the negotiations.
Sandulescu said, however, that the Romanian agri-business currently is in bloom due to a series of major transactions which create new opportunities for those who have the necessary specialization and experience in the field.
Alcedo holds a nearly 20% share of the distribution market of plant protection products and over 10% of the certified seed distribution market, placing among the top three fertilizer distributors. Also, Alcedo owns Alchimex, producer of plant protection products in Romania.
In 2011, Japanese group Sumitomo acquired 90% of Alcedo shares. Prior to the transaction, Alcedo group had been controlled by six private individuals, each holding stakes between 10% and 19.5%. One of the shareholders, who owns 10% of the group, refused to sell.
Sumitomo, the third largest Japanese corporation, operates in the heavy industry, financial services, mining and metallurgy, electrical and electronic installations, constructions and building materials, real estate, forest industry, the auto industry and the IT sector.