Catalin Chelu buys one third of Altur Slatina

Several companies in Galati, which are controlled by businessman Catalin Chelu, have taken over stakes from SIF Oltenia (Financial Investment Company Oltenia) accounting for over 30% of the capital of the aluminium smelting plant Altur Slatina, say experts from the market. The shares are worth over 7 million euros. The German group Honsel, which, like Altur, produces aluminium car parts, was also after the stakes bought by the businessman. The Germans had been negotiating the takeover of Altur with SIF Oltenia for a long time. Catalin Chelu is one of SIF Oltenia’s largest shareholders, controlling about 1% of the share capital, according to Stock Exchange reports. However, two of the six members of SIF’s Board of Directors represent the interests of the businessman, according to information on the market. SIF Oltenia sold 55% of Altur on Wednesday on the market, reducing its stake to around 25%.