Thus, company owner Ameropa Holding would bring Ameropa Grains to a status where it no longer needs to report periodically on its activity and results.
“This is a good decision for business, because we will have the entire activity under one umbrella, which would allow us to make decisions quicker,” said Ameropa Grains general manager Iulian Gheorghe, explaining the intention to delist.
The buyback offer will unfold between October 11 and 31, but several months should pass before all formalities are concluded. Moreover, Gheorghe himself was unable to put forth a timetable for the company’s delisting.
Ameropa has been doing business in Romania since 1996, and in May 2008 it has bought stock in Comcereal Constanta, recently renamed Ameropa Grains.
Initially, Ameropa Holding bought a 24.5% stake in the Romanian company, from Bank Austria Creditanstalt. The stake was then gradually increased to the current 96%.
Last year, Ameropa reported sales of EUR52 million in Romania, up 59% on the year. Net profit stood at EUR1.8 million, compared to a loss of EUR1.6 million in 2009, according to Finance Ministry data.
Swiss-registered Ameropa Holding is active in 26 countries, across five continents. The group has over 2,000 employees worldwide and it sells 11 million tons of fertilizer and three million tons of cereal per year, according to information posted on the company’s website.