SIF Oltenia paid RON2.99 per one Argus share, some 7.5% above Thursday close price.
Market participants estimate the Argus shares were sold by investment fund Business Capital for Romania-Opportunity Fund Cooperatief, controlled by BCR. The fund owns 29.61% in Argus.
Following today’s deal, SIF Oltenia increased its stake in Argus to 69.93%, according to Mediafax estimates.
Argus Constanta reported a loss of RON0.1 million in the first quarter, sharply narrower from RON4.5 million in the year-ago period. The company’s sales doubled to RON27.2 million. (EUR1=RON4.4275)