8TIM and Real Estate merge

Piatra-Neamt-based company 8TIM has merged by absorption with Real Estate SRL, with the main reason for the move being to separate the transportation operations and the real estate ones within the absorbing company and developing projects on some of the company’s plots. “8TIM was mainly conducting transportation operations, but was also involved in real estate, and the other company was specialised in real estate. What we intended through this merger was to separate the two fields of activity and to use some of the company’s assets to develop real estate projects,” said Dan Ostahie, majority shareholder of the two companies. He specified that the absorbing company, 8TIM, will in a first stage preserve only its international transportation operations, and then a new company will be created, which will operate exclusively in the transportation sector. “For now, we cannot say what will be the destination of these assets, we don’t know for sure if we will develop these projects, or if we will sell them to other investors, but the land will be used for real estate projects,” said Ostahie. Dan Ostahie is owner of the electronics and home appliances retail group Altex, which holds over 100 stores of electronics, home appliances and IT&C products throughout the country.