Transilvania Constructii is 59.6%-owned by the Timofte family (Gabriela-Camelia Timofte – 29.46% and Mircea Timofte – 30.14% of the shares). The fund purchased the stake Thursday from Camelia Timofte.
Swiss Capital was bookrunner on the deal.
Earlier Thursday, people close to the matter told news agency MEDIAFAX that the stake was bought by SIF Banat-Crisana.
Over the past sessions, the company’s shares rose 38.4% from RON32.5 per unit to some RON45/unit. SIF Crisana-Banat has recently bought 1.24% of Transilvania Constructii for RON0.416 million and increased its stake in the company from 19.05% to 20.28%. The deal on Thursday increased the fund’s holding in the construction firm to 49.63%.
Considering the price at which the shares were transferred, Transilvania Constructii has a market capitalization of RON47.3 million.
The company registered turnover of RON14.8 million in the first half of 2013, down 16% on the year, and profit of RON0.974 million, from RON1.9 million. (EUR1=RON4.4466)