EnglishTunele Braşov, a company specializing in construction, announced it would sell some of its assets of up 2 million Euros. The sale is intended to help the company secure funding to continue production. The company"s shareholders decided at the end of May to extend a line of credit taken from Raiffeisen Bank, which it will guarantee with other assets.
The shareholders have decided that the Board of Directors will be allowed to borrow and guarantee up to 1.5 million Euros in secured loans.
Shareholders of Tunele Braşov include Horaţiu Cercel (30.7%), Radu Timiş (20.45%), Florin-Nicolae Muntean (16%), Ştefan Manea (19.3%) and other shareholders (13.4%). The shareholders of Concefa Sibiu, controlled by Horaţiu Cercel, have approved in May the acquisition of a stake of up to 90% of Tunele Braşov.
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