Astra shareholders turn down $200,000

Kreyton Limited, registered in the British Virgin Islands has managed to buy the entire 23.4% stake it set out to get by the close of the public purchasing offer for the shares of Ploiesti-based Astra Refinery, in spite of a better offer for the same stake put out on the market. Broadhurst investment fund was offering 630 ROL/share, compared with Kreyton’s 600 ROL. Kreyton’s offer was worth $4 million, while the investment fund was prepared to pay $4.2 million for the same stake. Kreyton held 9.9% in Astra before the offer while the investment fund had 21.3%. Astra’s most significant shareholder is Asirom insurance company (35%). Asirom chairperson Angela Toncescu said the company had not sold its Astra shares. Under the circumstances, those to have sold theirs may be InterAgro, which held 15% and Vasile Crestin, who had 9.4%. ZF