Cristescu brothers to double share capital of Bega Utilaje Constructii

Brothers Emil and Marius Cristescu plan to double the share capital of Bega Utilaje Constructii in Bucharest, which deals in equipment rental, from 4.197 million RON to 8.395 million RON. The company, a member of the Bega group, held by the two businessmen, intends to issue 1.6 million shares with a nominal value of 2.5 RON. The shareholders will be able to subscribe the shares proportionately to their respective stakes. The current capital of the company stands at 4.19 million RON, divided into 1.67 shares with a nominal value of 2.5 RON. According to the latest reports, the two businessmen control 92.8% of the shares of Bega Utilaje Constructii. The company ended last year with turnover worth 9.6 million RON, 36.2% more than the 7 million-euro turnover posted in 2006. The company’s revenues went up by 32.7%, from 8.5 million RON to 11.3 million RON, while expenditures saw a higher increase, by 46.6%, from 11.6 million RON to 17 million RON. Therefore, the company’s losses went up by 84.5%, from 3.1 million RON to 5.7 million RON.