Representatives of RC2 investment fund, with around 200 millioneuros in assets, which fully controls paint producer Policolor anda quarter of dairy producer Albalact, believe this year an exitfrom the dairy business is more likely than from the constructionmaterials business.
"As far as Policolor is concerned, it is not the right time foran exit considering the construction materials market has beensignificantly affected over the last two years. The food industryhas been less affected during this time, and we can sell our stakein Albalact by the end of the year, if we get a good price," saidIon Florescu, manager of New Europe Capital, which managesinvestment fund Reconstruction Capital II (RC2).
The fund is reported to have a stake of slightly over 25% inAlbalact (ALBZ), being the second-biggest shareholder after theCiurtin family. Policolor is entirely held by two investment funds,RC2 and Romanian Investment Fund (RIF), both managed by New EuropeCapital and registered in Cyprus. RC2 also owns travel operatorMamaia Resort Hotels on the Romanian market, private clinics groupRomar, and factoring company Top Factoring.
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