The majority shareholder is looking to buy 46.3 million shares, or 4.46% of the company’s share capital, which is the amount of shares available for free float on the Bucharest Stock Exchange.
Al-Arrab Contracting Company, which holds 95.53% of Electroputere, would thus gain full control of the company and would be able to delist it.
The buying price is RON0.0115 per share, bringing the targeted stake to RON532,660.
The offer will run from February 19 to March 3 and will be brokered by Swiss Capital.
Electroputere Craiova was established in 1949 and became a holding company in 1991. It was privatized in 2007.