MEI, 6m-euro stocks in Imotrust and Contor Arad

Two investment funds managed by the Dutch-based Middle Europe Investments (MEI) bought a 5% stake in real estate developer Imotrust Arad (ARCV) on Tuesday, from its majority shareholder, Grup Codlea, through transactions worth 18.7 million RON (5.5 million euros) conducted on RASDAQ. October also saw the MEI funds acquire a 6.25% stake in Contor Grup Arad, (which will be listed on the Stock Exchange by the end of the year) and paid around 800,000-900,000 euros, according to market sources. Investment fund MEI Roemenie en Bulgarije, which entered the Romanian capital market a year ago, has become one of the largest investors on the stock exchange, and holds a portfolio worth over 100 million euros. The fund purchased significant stakes in several companies listed on the RASDAQ market this year, such as Cemacon Zalau (CEON – 10.12%), Mecanica Rotes Targoviste (METY – 6.54%), Prospectiuni Bucuresti (PRSN – 5.01%) and Rompetrol Well Services (PTR – 5.95%).