Ioan Bejan, a former secretary of state with the EconomyMinistry, currently a real estate consultant, late last week sold a20% stake in Concordia A4 real estate firm, raising 16.8m RON (4meuros). Bejan thus multiplied his money 44 times in less than fiveyears, in the context where he bought the 20% stake in Concordia A4capital at the end of 2005 in a deal worth almost 382,000 RON(105,000 euros), at a price of 2.1 RON/share. Ioan Bejan iscurrently a partner in GreenMax Capital Advisors consultingservices firm, and in March-November 2009 worked as a secretary ofstat with the Economy Ministry. He was also a development managerwith Raiffeisen Banca pentru Locuinte. The businessman sold thestake he owned in Concordia A4 at a price of 93 RON/share, morethan 7 times higher than the latest quote on the market. The buyersare two investment vehicles, namely Pazona Limited of the BelizeIslands, which acquired 14.91% of the stake sold by Bejan, andWardino Management Limited Nicosia of Cyprus, which at the end ofthe week was reported to hold 5.07% in Concordia A 4 Bucharest. Thedeals value the real estate firm at 84.6m RON (over 20m euros).
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