10 May 2007 - Romanian investment fund SIF Oltenia has sold its 17% stake in local milk processing company Lacta Giurgiu for 1.83 mln Romanian lei (555,000 euro) on the over-the-counter market Rasdaq, the fund said in a statement.
SIF Oltenia sold 2.8 million Lacta Giurgiu shares for 0.65 lei (0.2 euro) per share. The fund’s ownership is now at 69%, added the statement.
Located in southern Romania, Lacta Giurgiu recorded a net profit of 438,000 lei (133,000 euro) in 2006, up 1.3% on the year.
SIF Oltenia reported a net profit of 78.9 mln lei (23.87 million euro) in 2006, up 37% year-on-year.