Pogonaru had planned to buy 59.89% in Prodplast for RON12.98 million, or RON1.27 a share, during a takeover offer launched July 13.
The businessman partnered up with Cyprus-based Avaliser Trading for the takeover offer, brokered by Voltinvest. Together, they owned 40.11% in Prodplast.
Prodplast reported a loss of nearly RON0.5 million in the first quarter, wider from RON179,000 in the year-earlier period.
Turnover stood at RON11.23 million (EUR2.6 million), up nearly 21% on the year.
On the Bucharest bourse Tuesday, Prodplast closed down 3.17% at RON1.22 a share. (EUR1=RON4.2342)