Timisoara Plaza Center SRL to bid for 26.38% in Sinteza Oradea

Timisoara Plaza Center SRL will launch a tender offer for a stake of 26.38% in Sinteza Oradea, a company specialising in production of chemicals. The company is offering 0.7 RON/share, 11.1% higher than the latest price the stock has been traded for on the Bucharest Stock Exchange, while the value of the offer amounts to 3.4 million euros. According to capital market legislation, the company was bound to launch a tender offer after it attained control over 33% in the other company's stock. Timisoara Plaza Center exclusively owns 42.37% of stock and, together with Trans World Trading and businessman Tibor Tincau from Oradea, controls 73.6% of the company's capital. Tibor Tincau is one of the main partners in Trans World Trading, which in turn owns 95% in Timisoara Plaza Center. Con tacted by ZF, Tincau said he did not take over Sinteza for the 40 hectares of land it owns, but to the end of expanding the company's current operations.