The value of transaction has not been disclosed.
The transaction was announced by law firm Zamfirescu Racoti & Partners (ZRP), which assisted TTS throughout the transaction.
On the Romanian market, TTS controls river navigation company Navrom Galati. Besides Mircea Mihailescu, International Finance Corporation – the investment division of the World Bank, also owns a 10% stake in TTS.
Transport Trade Services registered a turnover of RON322 million in 2015, up 13% on the year, and a profit of nearly RON15 million. The company has 70 employees.