Octavian Radu, the businessman who set up RTC Group, with 5,000 employees and 200m-euro turnover, is trying to attract partners with whom to share the group's shareholding structure and subsequently an investment fund, after having sold or tried to sell only units of RTC Holding in recent years.
"Until autumn, I will try to attract the top management in the shareholder structure through an options and shares scheme. At the same time, I will start attracting some business partners and then investment funds, most likely in 2010. In the fourth stage, each unit will be separately listed on the stock exchange, or some units will be sold to some strategic investors," Radu stated. Whereas until 2008, Radu had attempted to sell the units that dragged the group's turnover down and even moved away from the operating side of the business, with each unit being assigned to an independent manager, at present the businessman has reached the conclusion that a partnership can help him overcome the crisis.
RTC owner started doing business in Romania after 1989, by distributing consumer goods and continued by producing printer paper. For over 15 years he created businesses he then sold to start new ones because he considered he had brought the firm to a certain level to which it could not add too much, as he previously stated.
At present, RTC group has eight units particularly centred on retail rather than on distribution and that generate turnover worth above 200m euros. The current context, where consumer spending has shrunk visibly, has pushed Radu to completely change his strategy and implicitly consider relinquishing a stake in the group he created.
"The money raised from stock sales has the role to strengthen the group's capacity to survive the crisis by cutting loans and boosting equity capitals. The money from investment funds will allow RTC to grow at the moment the crisis is overcome," Radu explains.
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