Excelent invests $1.97 in Kandia

Sweets producer Excelent Bucharest might contribute $1.97m to the capital increase of another company operating in the same field, Kandia Timisoara. The investment will be made as a contribution in cash and will also include the transfer of some buildings and lands. Excelent became the main shareholder of Kandia after taking over 60% in the company’s capital from the Rivta GmBH investment fund within a complex transaction, at the beginning of this year. The transaction also stipulated the takeover of investment obligations pledged in the privatisation contract by the former majority shareholder, whereas the capital increase is actually part of these obligations. ZF