Bercea seeks big investors for Imotrust Arad

Alexandru Bercea, one of the richest and most discreet
businesspeople in Western Romania, who controls Codlea group, which
operates in real estate development, intends to sell the majority
stake in Imotrust Arad (ARCV), which he controls, to a big
investor. “Last year’s crisis caught us, like everyone else, with
rather significant loans, so it is important to find a solution to
help us get through these hard times, i.e. attract capital from the
outside, from an investment fund, a major investor. For this we
need to find a solution either through a capital increase or by
selling a stake,” Alexandru Bercea told ZF. He specified that
funding needs have diminished, with Imotrust recently announcing it
sold a plot for 7 million euros to a retail operator, but that the
resources attracted could also be used for acquisitions.