On the 17th of July 2013, the Board of the Financial Supervisory Authority has endorsed the request of SIF Banat-Crișana to acquire a qualified stake representing 99.96% of the share capital and from the total of the voting rights of SAI Muntenia Invest SA. Previously, on the 27th of June 2013, the Competition Council has issued the decision of non-objection regarding the completion of this transaction.
The acquisition of the majority stake in SAI Muntenia Invest will be performed in three stages. In the first stage, the transaction envisages the acquisition of 50.01% of the share capital of SAI Muntenia Invest at the price of RON 8,250,000 plus a variable component depending on the net asset evolution. The price of the stakes to be acquired in the next stages will be determined by the net asset value of the company at the transaction date.
This investment is part of SIF Banat-Crișana’s strategy of development of the own stock portfolio. The acquisition of the majority stake of stocks issued by SAI Muntenia Invest SA represents a strategic investment, having as financial objective on long term to grow the revenues, by making more efficient the activity and the management of SAI Muntenia Invest SA.
Read the full press release here >