CNVM looking into Eforie asset sales

The National Securities Commission (CNVM) is investigating the sale of assets of the tourism company Eforie Constanta listed on the Bucharest Stock Exchange (BSE).The sales were made right before it merged with other companies operating on the Romanian Black Sea Coast. The company officials say they have not been officially notified of this investigation. CNVM’s investigation is the first to be publicly announced involving the operations of a company listed on the capital market. All the other investigations CNVM has conducted thus far have only concerned transactions closed by investors on the capital market and the operations of the brokers, mutual funds or other market institutions. ZF