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Copos takes out 2.2m-euro loan from CEC for Rapid football team

19.05.2010, 21:36 7

Businessman George Copos, financer of Rapid football team andowner of several businesses in tourism, bakery and industry, hastaken out a 2.2 million-euro loan from state-held CEC Bank forFotbal Club Rapid SA trading company.
"The loan was taken to cover capital expenditures, salaries, bills,overdue payments and debts from 2008, including those owed to thestate budget. We pledged two assets as collateral, worth over 7million euros," said businessman George Copos.
Asked why he had chosen a state-held bank for this loan, Copos saidhe wanted to see how a loan from a state-held bank worked and thatout of respect for this bank would not offer information on thelending terms. CEC officials said they could not supply anyinformation on this loan for confidentiality reasons.
The owner of the Ana Holding group, with 60 million euros inrevenues in 2009, also contracted a 25 million-euro loan from BRDSociete Generale, one of the biggest loans contracted in a crisisyear on the Romanian market.

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