The local branch of Dutch giant Alfred C. Toepfer, one of themost discreet players on the grain trade market, with 332million-euro business in 2008, bought the controlling interests inCerealcom Giurgiu from three Romanian businessmen Gavril Fetinca,Bogdan Stanca and Bogdan Gruia in mid December 2009.
The three entrepreneurs are also the owners of Aaylex Trading,which owns 66.06% in poultry producer Avicola Buzau. The value ofthe deal was not revealed, because neither the buyer nor the sellerwanted to provide any comment on it. "We did not put the silos upfor sale, those at Alfred C. Toepfer were interested in buyingthem," said Bogdan Stanca, adding that it was the buyers thatshould be sought for more information on the deal.
The reason for this move may have to do with the position of thesilos owned by Cerealcom Giurgiu, whose capacity stands at 35,000and 10,000 tonnes. "Alfred C. Toepfer has been running operationsfrom Giurgiu for a long time because this is an important exportharbour. Usually, the acquisition of such silos is not cheap andthe investment is not easy to recover. I believe this was anopportunity those at Toepfer tied to their export business," saidRobert Arsene, general manager of Agricover, which produces seedsand distributes agricultural products.
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