Euromobex takes over Mobila Alfa

(story to be published in tomorrow’s issue, March 24)

Bucharest-based company Euromobex on Tuesday bought the 51 percent stake in Mobila Alfa Oradea stock and plans a total recovery of the company in October this year, mainly focussing on exports, according to Mediafax news agency. Euromobex paid 700 lei for one Mobila Alfa share, although the starting price of the tender had been set by SOF Bihor at 1,000 lei for one share. The value of the entire stake purchased by Euromobex from The State Ownership fund was 5.47 billion lei. Euromobex is a stock company, its capital entirely Romanian. Shareholders include two companies and four natural persons. Euromobex belongs to a group of five companies, four Romanian and one Swiss and is represented in Romania by the American concern Fuller. Mobila Alfa is the first investment of Euromobex on the Romanian furniture market. Vasile Pernes, General manager of Euromobex, said that the company planned to reopen the upholstery section, to introduce new models of furniture and to double the output per employee. Moreover, Pernes added, over the next two years about 30 billion lei will be invested in Mobila Alfa. Mobila Alfa has a share capital of 15.29 billion lei, divided into shares with a nominal value of 1,000 lei. Apart from the main stake of 51 percent that SOF has held so far, the rest of 49 percent belonged to shareholders resulted from the mass privatisation process, the general management – 29.37 percent and other shareholders – 1 percent.