Businessman Octavian Radu said he would restructure the IT unit of the group he controls, RTC Holding, in order to prepare it for floatation in 2008.
Octavian Radu last year acquired several IT companies (distribution, retail, system integration) and he now wants to integrate all of these into a single structure, to be named Best Computers.
Over the following months, he says he will negotiate with the minority stakeholders in the acquired companies about the participation they will have in the new entity. Around 15 minority shareholders will hold stakes ranging between 0.3 and 4.2% in Best Computers.
“In the new entity, minority shareholders will have a cumulated stake of 41.3%, and I am going to hold the majority stake,” Octavian Radu told ZIARUL FINANCIAR.
The companies to form the IT unit of RTC Holding are Best Computers, Best Distribution, Sistec, ProCA and Atlas. These carry IT distribution, import and retail operations, as well as hardware integration ones.
In 2005, the IT unit of RTC group derived turnover worth 51.7 million euros and for 2006 the volume of sales is estimated to reach 68.7 million euros.
Radu says that, including IT sales to be posted in the Diverta network (specialists in book and multimedia products distribution), sales will exceed 100 million euros.
“At this moment, I believe the value of the IT unit part of RTC Holding is about 10-20% lower than Flamingo”s stock exchange capitalisation, but we will exceed it by the end of the year,” the RTC Holding chairman predicts.
Given that Flamingo”s stock exchange capitalisation amounts to 62 million euros, the value of the IT unit of the group owned by Octavian Radu ranges between 50 and 55 million euros, according to the businessman.
“I am going to reach an agreement with minority stakeholders with regard to the redistribution of stock in the new entity we are creating,” says Octavian Radu.
He is not ruling out the possibility of part of the shareholders exiting the business through a cash transaction.
The IT unit of RTC will bear the name of one of the companies Octavian Radu acquired last year.
Best Computers is an IT retail business with a turnover of around 10 million euros, owned by three entrepreneurs, with Robert Coman and Teo Paduraru as the majority stakeholders.
The deal involved an equity swap between Diverta and Best Computers, with Radu becoming the owner.
Now, the buyer admits the most important element that appealed to him about this company was the brand, Best Computers.
The businessman also plans to franchise this brand, beside Best stores included in the Diverta network.