On Thursday, Chelu bought 13.3% in the company, through 11 firms, at an average price of RON3.2 per share.
SIF Oltenia (SIF5.RO), another Argus holder, recently upped its stake to 27.19% in the firm.
Argus has a share capital of RON53.6 million, divided into 35.7 million shares with a face value of RON1.5.
Argus holds an oil plant in Constanta and several warehouses in the counties Constanta, Calarasi and Tulcea.
The company posted sales of RON64 million in the first quarter, up 70% on the year. Net profit rose 26%, to RON5.6 million. (EUR1=RON4.2717)