According to Trade Registry data, Domo Retail was owned by Cyprus-registered Avarike Limited with 99.999986% and Eugen Petrov (Bulgarian-born Austrian citizen) with 0.000014%. Petrov has been Domo Retail’s board chairman and shareholders’ board representative since 2012.
“Eugen Petrov has taken over the company following a management buyout process that makes him the sole shareholder of the company that owns Domo Retail,” the retailer said in a statement.
The value of the buyout has not been disclosed.
Petrov is a founder and managing partner of several international companies with offices and branches in EU and Commonwealth states.
Domo Retail is one of the biggest retailers of electronics, household appliances and IT&C products in Romania, with a countrywide network of more than 90 stores and an online platform.
In 2013, Domo Retail had a turnover of RON584.1 million, from RON552.4 million the year before, and its losses narrowed to RON42.3 million from RON50.2 million.