Cristescu wants Calburean's Dafora intragroup contracts checked

Marius Cristescu, who owns companies with an around 180 million-euro capitalisation on the Stock Exchange, has requested via drilling company Foraj Sonde Craiova (FOSB), which it controls, that the auditor checks contracts sealed by Dafora Medias (DAFR), held by Gheorghe Calburean, with companies in the latter’s group. Calburean controls a group of companies whose turnovers amounted to around 500 million RON (117.6 million euros) last year and holds two of the best-known companies on the Stock Exchange, Condmag Brasov (COMI) and Dafora Medias, with a cumulated capitalisation of 90 million euros.

Marius and Emil Cristescu brothers in turn hold listed companies worth over 170 million euros. Cristescu last year acquired an over 5% stake in Dafora Medias on the stock exchange, with the company being one of its main competitors on the Romanian drilling market.

As a significant shareholder of the Medias-based company, Cristescu now wants to know what Dafora’s benefits or losses, as the case may be, amount to, from loan contracts sealed with companies where Dafora, Gheorghe Calburean, and/or Dafora Group are shareholders, according to the notice to attend, published on the Stock Exchange’s website. Neither Marius Cristescu nor Gheorghe Calburean could be contacted for comment yesterday.