Banciu, founder of Farmexpert, the second-largest pharmaceutical wholesaler in Romania, with sales of over EUR400 million in 2011, still has 20% in the company and remains a member of the board of directors.
“Mr. Banciu has stepped down as general manager,” said Iulian Trandafir, the current general manager. Before taking over from Banciu, Trandafir was executive manager.
He did not wish to specify the value of the transaction. According to ZF estimates, the 20% stake in Farmexpert could be worth around EUR20 million.
(English version by Daniela Stoican)