The National Securities Commission (CNVM) approved businessman Dinel Staicu's appointment as chairman and general manager of SIF Oltenia. Staicu, a declared fan of the Ceausescus, had been selected to run the financial investment company after a battle for power that had been fought for several months. Dinel Staicu has thus come to control one of the most profitable companies in Romania, with income standing at 25.9 million euros after the first seven months of this year and a market value of 435.1 million euros. The company's main wealth is made up of a 6.12% stake in BCR, 5.34% in BRD, 0.86% in Petrom and around 5 percent in Banca Transilvania. SIF Oltenia also holds stakes in several hundred Romanian companies. After his appointment, Staicu stated he did not plan to sell the main stakes the company owns in the banks and Petrom.
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