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A 6,35% stake in retailer Flamingo International SA (FLA) was transferred on the Bucharest Stock Exchange through four special transactions totaling 18,3 million RON (5,45 million EUR), according to NewsIn. 49,5 million shares were transferred, at 0,37 RON/share.
On February 28th, Bank Austria Creditanstalt held a 14,53% stake in the company, after having sold 3,9% in Flamingo for 10,64 million RON (3,2 million EUR). During the last month, Bank Austria Creditanstalt (BA-CA) sold 15,84 million shares, namely 2% in Flamingo International, which reduces its holding in the company to 12,53%.
At end-February , Flanco Holding sold a 14,44% stake in Flamingo Internaţional, following a special transaction totaling 36 million RON (10,7 million EUR).
In 2006, Flamingo Internaţional SA posted losses of 12,9 million RON, due to group consolidation after having taken over Flanco, whereas in 2005 the company posted million RON in profit. The company"s turnover declined by 6,3%, to 193,7 million RON, compared to the previous year, when it posted 206,8 million RON in turnover.
Flamingo International has a share capital of 77,9 million RON, divided into 779 million shares with a face value of 0,10 RON. The majority shareholder is Dragos Cinca, holding nearly 40% in the company, while QVT investment fund holds 10,22%.
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