EnglishShareholders in wool weaving mill Argesana - Pitesti (ARGE) have approved the sale of certain machine tools and metal structures for at least 100,000 EUR, VAT exclusive, and the cessation of any production operations.
Girexim Universal SA sold all of their 22.15% stake in Argesana for 6.42 million RON on August 21st. On the next day, Julius Meinl Versicherungsservice & Leasing reported possession of 21.86% in Argesana. The sale made by Girexim points to an overall market value of 29 million RON (8.9 million EUR) for Argesana.
In late June, Magnum Proiectare Imobiliara SRL had bought 2.95 million shares in Argesana (69.25%) for 6.85 RON/share totaling 20.23 million RON. After the purchase, Magnum reported an overall stake of 74.33%. On May 14th, SIF Moldova sold their 16.42% for 3.74 million RON (1.14 million EUR), whereas BRD - Groupe Societe Generale sold their 10.65% in Argesana for 2.27 million RON.
Argesana is the leasing wool weaving mill in the country with over 90% in market share. The company has a share capital of 10.66 million RON divided into 4.26 million shares with a face value of 2.5 RON. The Q1 results included a net profit of 5,725 RON and a turnover of 1.86 million RON.
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