Balkan Accession Fund (BAF) investment fund, coordinated by Horia Manda, has completed a 25 million-euro deal to take over control of Frigotehnica, one of the leading players on the refrigerating equipment market, with the sum including both the price paid for the shares and an investment plan. BAF now controls 75% in Frigoholding, which holds 99.8% in Frigotehnica, leaving businessman Nicolae Bara with a 25% stake in the company. The Competition Council authorised economic concentration in October, in order for Frigoholding to gain control over Frigotehnica. "I am still a shareholder of the company and will continue as its president. I have already collected the money, but I don't have any plans of investing in other sectors. I did not negotiate a sale, but an expansion plan for the company, an association between two parties, and I will declare myself happy when this plan is completed," said Nicolae Bara, who used to hold the largest share in Frigotehnica before this sale - 60%, according to his own statements.
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