English
The Iasi-based cotton mill Iasitex (RASDAQ:IASX) has asked shareholders to approve the acquisition of 69.93% in INAV - Bucharest jointly with the INAV Employee Association. More precisely, A2 Impex SRL - Ploiesti, the majority shareholder in Iasitex, would like to buy the majority stake in the research institute INAV by having the Iasitex - INAV Employee Association consortium take over the privatization contract from the consortium formed of Erre 2 International SRL and the INAV Employee Association.
A2 Impex SRL - Ploiesti is part of SCR Group, controlled by Stefan Vuza. In June, the consortium formed by Erre 2 International SRL and the INAV Employee Association bought 69.93% in INAV Bucharest for 1.85 million USD. The buyer agreed to maintain the number of employees and the core business, as well as to pay all of INAV"s debts to the State within a year. Iasitex has a share capital of 19.85 million RON, divided into 1.93 million shares with a face value of 10.24%. A2 Impex holds 59.84%.
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