Draka in talks with Paneuro

The Dutch group Draka, one of the biggest wiring producers in the world is in talks to acquire Romcab Targu Mures from its majority stakeholder, the Paneuro group, market sources told ZF. The Paneuro group owns about 86% in Romcab shares, with the brokerage company SSIF Broker Cluj owning 7.17%, and with the rest of the shares being held by minority shareholders on the RASDAQ, where company shares are listed. The sale of the Romcab stake, owned by Paneuro Company, a firm controlled by businessman Zoltan Prosszer, is estimated at 10-12 million euros, according to latest available data. The estimated value is double that of Romcab”s market capitalisation, which now stands at 5.2 million euros, at a price of 3.3 RON/share. Romcab representatives confirmed that talks over the sale of the wiring producer had been held with several investors for a long time, but did not want to make further comments. ZF