Broadhurst owns 67.72% in Electroaparataj and 33.43% in Libra Bank, a unit of investment fund New Century Holdings (NCH), which manages the American fund.
“Broadhurst will acquire the shares (in Libra) from Electroaparataj, which needs the cash,” Siminel Andrei, general manager of NCH Advisors, told Mediafax.
Andrei said Libra will report profit for the second consecutive year in 2011, owing to prudent lending policies.
“The bank is not up for sale and it’s doing reasonably well in this recession,” he added.
Andrei didn’t say how much Broadhurst will pay Electroaparataj for its shares in Libra.
Libra Bank posted a net profit of 9.15 million lei (EUR2.1 million) in the first half, well above RON0.25 million in the year-earlier period. (EUR1=RON4.3529)