Lorand Szarvadi, CEO and main shareholder of the electronics and home appliances retailer Domo, estimates the company is worth around 100 million euros. Szarvadi is currently in talks with three investors, two of which are investments funds, and the third is a strategic investor. He declined to name the companies he is negotiating with.
"Domo is a company with a value somewhere between 80 and 100 million euros, close to 100 million euros. The sum we want for the majority stake is 50 million. It all depends on who will be the winner, the strategic investor or an investment fund," said Szarvadi.
Every option has its advantages and its disadvantages.
"A strategic investor offers less than an investment fund, but this is compensated by the fact that it brings greater acquisition power and international business knowledge," added Szarvadi.
Preparations to change the main shareholder of the electronics and home appliances retailer started in 2006, when the company's founders transferred their shares to Dominuse holding.
"It was a move which will facilitate any of the directions that the company may choose to follow, and for any options that we may also consider. I represent Dominuse. I am authorised by the other individual shareholders to negotiate for 75% of Domo. There are other individuals and the funds, that also have a single negotiating team, and are also represented by one person," stated Lorand Szarvadi, Domo's founder.
Following the negotiations, Domo received several offers, which involve either the takeover of a stake close to the majority stake, or even a 51% stake.
"The golden share (the share which gives majority control) is very important. Even if we are talking about 51% or 50% plus one share, all investors want the top management team to stay with the company, and for us to further increase the company's value," said Szarvadi.
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