Florescu, RC2: We are closer to an exit from Albalact than from Policolor

Representatives of RC2 investment fund, with around 200 million euros in assets, which fully controls paint producer Policolor and a quarter of dairy producer Albalact, believe this year an exit from the dairy business is more likely than from the construction materials business.

“As far as Policolor is concerned, it is not the right time for an exit considering the construction materials market has been significantly affected over the last two years. The food industry has been less affected during this time, and we can sell our stake in Albalact by the end of the year, if we get a good price,” said Ion Florescu, manager of New Europe Capital, which manages investment fund Reconstruction Capital II (RC2).

The fund is reported to have a stake of slightly over 25% in Albalact (ALBZ), being the second-biggest shareholder after the Ciurtin family. Policolor is entirely held by two investment funds, RC2 and Romanian Investment Fund (RIF), both managed by New Europe Capital and registered in Cyprus. RC2 also owns travel operator Mamaia Resort Hotels on the Romanian market, private clinics group Romar, and factoring company Top Factoring.