The Argus Constanta oil factory, sold to the largest oil producer in Bulgaria. To how much the transaction rises
Sunflower oil, photo: Dreamstime
The Investment Fund Infinity has concluded an agreement for the sale of 91.42% of the shares held at the ARGUS Constanta vegetable oil manufacturer to the Bulgarian company Builcom Eood, affiliated with Oliva A, the largest manufacturer of raw and refined sunflower oil, reports Profit.ro.
The completion of the agreement depends on the fulfillment of certain suspensive conditions, including, but not limited to, the regulatory approvals from the competent authorities in Romania.
The price per share will be adjusted according to the financial position of the companies at a set date, related to a agreed value of the company of 14.5 million euros.
The indicative calculation indicates a price per share of about 1.85 lei. From the indicative quotation and given the size of the majority shares of Argus, the transaction would exceed 10 million euros, according to profit.ro
Argus Constanța was established in 1943 as a private company with Romanian capital, later in 1948 being nationalized by the communist regime under the name of the Constanta oil company. In 1990, the company was reorganized as a joint stock company under the name of Argus.
Buildcom Eood, established in 1994, is one of the most important Bulgarian companies involved in international trade with agricultural products, such as wheat, corn, barley, peas, rapeseed, sunflower, etc. Buildcom is affiliated with Oliva Ad, the largest producer of raw and refined sunflower oil in Bulgaria.
