“We established the holding company for the flexibility such a structure provides for the development of the new investments of our group and because we want to organize better by business lines to improve efficiency. We have no intention to go public. Paval Holding will hold all our interests at the moment,” Dragos Paval told ZF.
Paval Holding is the largest company established in 2018 by share capital and is held by Dragos Paval and Adrian Paval, 60% and 40%. The capital of the holding company was determined after the valuation of the stakes of the two entrepreneurs in Dedeman.
The appraisal was done by an authorized valuer member of Romania’s association of authorized valuers in November 2017, according to the Official Gazette.
The Paval brothers have made several acquisitions over the past two years, from stakes in energy companies to office buildings. Dedeman sealed the deal to buy The Bridge this summer, which was the largest office space deal in Romania, valued at EUR200 million. Dragos and Adrian Paval also came to own 59% in brick maker Cemacon via PIF Industrial and Dedeman. Dedeman became the main shareholder of Cemacon at the end of 2017 when it bought 13.4 million shares in a single deal, going from 29% to 40.7% in the brick maker. The two entrepreneurs also won stakes of about 5% in energy companies Electrica, Transelectrica and Conpet.
According to the data supplied by the company in 2017, Dedeman was valued at almost EUR2 billion and was the third most valuable entrepreneurial company in Romania, according to the 2018 edition of „Top 100 cele mai valoroase companii din Romania” (Most valuable 100 companies in Romania) yearbook compiled by ZF and BT Capital Partners.
Dedeman Bacau is the largest entrepreneurial company in Romania by revenue and the first to overshoot the EUR1 billion mark in 2016, speeding towards EUR1.4 billion last year.
(English version by Loredana Fratila-Cristescu)