Iaciu sells Expo Market Doraly

An investment fund that belongs to HSBC, one of the largest financial groups worldwide, last month acquired Expo Market Doraly for 65-70 million euros from businessman Gheorghe Iaciu, according to news agency Mediafax. According to the quoted sources, the transaction involved a division of the British group HSBC – European Infrastructure Investments 1, which took over, via a company established in Romania, an over 99% stake in Expo Market Doraly. According to data from the Electronic Archive for Security Interests, Expo Market, based near Bucharest, is featured as part of a credit contract between Alpha Bank Romania as a creditor and Hearef Luxembourg (Romania) SARL, as a debtor. According to Luxembourg?s Official Gazette, shareholder Hearef Luxembourg (Romania) SARL is a division of HSBC. Gheorghe Iaciu could not be contacted for details by the time the story was ready for print.