“My eMAG stake is now 21%. I had 25% but considering the investments made by my partner Naspers, almost EUR100 million, it shrank a bit,” Iulian Stanciu, eMAG group CEO, said on ZF Live.
eMAG expects sales to reach 3.7 billion to 3.9 billion lei (EUR799 million to EUR842 million) this year and overshoot the EUR1 billion mark in 2018.
ZF reported in February that Naspers came up with tens of millions of euros for eMAG during several capital increse operations by issue of new shares last year, citing data published by the company in the Official Gazette. eMAG did not comment on the information at the beginning of the year. Iulian Stanciu did not participate in any of the capital increase operations. (EUR1=RON4.6306)
(English version by Loredana Fratila-Cristescu)