Bercea seeks big investors for Imotrust Arad

Alexandru Bercea, one of the richest and most discreet businesspeople in Western Romania, who controls Codlea group, which operates in real estate development, intends to sell the majority stake in Imotrust Arad (ARCV), which he controls, to a big investor. "Last year's crisis caught us, like everyone else, with rather significant loans, so it is important to find a solution to help us get through these hard times, i.e. attract capital from the outside, from an investment fund, a major investor. For this we need to find a solution either through a capital increase or by selling a stake," Alexandru Bercea told ZF. He specified that funding needs have diminished, with Imotrust recently announcing it sold a plot for 7 million euros to a retail operator, but that the resources attracted could also be used for acquisitions.