SIF Transilvania gives up Romanta Estival

SIF Transilvania sold its 39.6% stake in Romanta Estival 2002 on Monday, through several transactions worth 0.86 million euros (3.06 million RON) on RASDAQ. SIF Transilvania thus liquidated its stake in the company, whose majority shareholder is Bucegi SA, controlled by brothers Ioan and Viorel Micula. The transactions were concluded at a price of 1.26 RON/share, the company’s value being put at 2.18 million euros. According to information on the market, Bucegi SA, as majority shareholder, appears to have been the one to show the most interest in acquiring the stake held by SIF Transilvania. Contacted by ZF, Ioan Micula, chairman of the European Drinks group denied that he had bought the stake. “We did not buy it and I don’t know who bought the Romanta Estival stake, either,” declared Micula. Romanta Estival 2002 was set up in 2002, and was the result of the split of Neptun Olimp SA. The company was privatised in July 2002, as part of the privatisation programme of the hotels on the Romanian seacoast, and the majority stake was taken over by Bucegi SA. The company’s main asset is the two-star Romanta hotel in the Neptun resort.