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Bank Austria buys into Comcereal

25.11.2004, 00:00 8



Bank Austria Creditanstalt now owns 5.2% in the grain storage company Comcereal Constanta following stock acquisitions on the RASDAQ, where the company is listed. The shares registered under the name of the bank were most likely bought for the account of a foreign client. The Austrian bank's becoming a shareholder in its position as trustee could be the start of an attempt to take over Comcereal. The location of its storage facilities, close to Constanta Harbour, makes the company attractive to a strategic investor. This year saw US Cargill Group enter the Romanian market, following acquisition of Comcereal Alexandria, which owns grain storage facilities in several counties of Romania. Cargill officials told Ziarul Financiar they were not the ones behind the purchases of Comcereal Constanta shares. ZF



 

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