American funds Artio Global, the biggest foreign investors onthe Stock Exchange, with a portfolio of over 100 million euros atthe end of October 2010, bought a large share of the 5% stake inBRD sold by the EBRD for 107 million euros, in the biggesttransaction in the history of the Stock Exchange.
The transaction was coordinated by Rudolph-Riad Younes, who runsthe international investment department of Artio Global Management.Younes (49) is one of the first international fund managers to beton the Romanian market, making his entry as early as 2002 byacquiring significant stakes in Petrom and BRD worth tens ofmillions of dollars and had come in 2007 to control half a billiondollars on the Stock Exchange through the funds he managed. Younesmanages three Artio funds at present, with 18 billion dollars (over13 billion euros) in overall assets.
Alongside Artio, buyers include other foreign investment fundsthat already have exposure to the Romanian market, according tomarket sources. The over 100 million-euro transactions involvingBRD are the biggest in the history of the Bucharest Stock Exchangeand show a sudden revival in the interest of foreign investors inthe Romanian market, although the economy still has a few steps totake to fully come out of recession.
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