Tnuva to team up with Bank of Europe

Bank of Europe will become a partner, with 35% in the $50m investment that Israeli dairy company Tnuva will make on the Romanian market, Arik Raichman, Tnuva general executive manager, was quoted as saying by Globes. Bank of Europe Ltd. is registered in the tax havens of Antigua and Barbuda. The value of the investment to be carried by Tnuva in Romania stands at about 50 million dollars. Arik Raichman denied rumours regarding the alleged problems linked to Tnuvaa??s investment in Romania, which supposedly led to the resignation of the companya??s financial officer at the end of last week. Tnuva bought 20 hectares of land in Popesti-Leorden where it is to build the plant. Cow breeding farms located in the southern region of the country will be subsequently added. ZF