The deal, estimated at over EUR10 million, is set to reach the Competition Council shortly, according to other sources.
“Comfert Bacau and Popasul Trebes are interested in this takeover in order to diversify their product range. In addition to fertilizers, seeds and pesticides, products would also include flour, cornmeal and pastas. The two companies are interested in minimizing the risk of grain price fluctuation and enter the bakery market,” said one of the sources.
If the deal goes through, the Pambac business would be controlled by the Grigoriu family, the owners of Comfert Bacau and by businessman Anton Gutu, the shareholder of Popasul Trebes. Now Pambac Bacau is held by the members of the board of directors, after the company was privatized using the MEBO (management and employee buyout) method in the early 1990s.
However, Alin Giurea, president of Pambac Bacau, denies the information about the prospective sale of the company. Officials of Comfert and Popasul Trebes did not wish to make any official comments.
(English version by Daniela Stoican)