The battle for control of Argus Constanta, the second edible oil producer on the Romanian market, is intensifying on the RASDAQ now that SIF Oltenia is set to become the most important shareholder in the company. SIF Oltenia has acquired 10% in Argus on the capital market over the last few months, with the quote for this stock going up by almost 50%. The only larger stake belongs to the company's manager Vasile Leu.
SIF Oltenia representatives say they would be interested in buying more shares from the market. "We bought into Argus because we thought it was a good investment and we may buy more depending on the market trend," explained Florin Buzatu, SIF Oltenia vice president.
The stake currently owned by Argus's management and employees allows them to decide on the fate of the company, but after the disbandment of the Employee Association, they gradually began to sell their shares.
"The management of the company and its employees currently own around 50% but the employees are tending to sell their shares," said Vasile Leu.
Apart from Leu and SIF Oltenia, no other shareholder owns more than 5%.
vlad.nicolaescu@zf.ro
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