Romanian company Dedeman, owned by the Pavăl brothers, bought 23.26% of ALRO, through Pavăl Holding, in a private placement initiated by majority shareholders. In addition, two executive managers of ALRO, the Chairman of the Board of Directors – Marian Năstase and the Financial Director – Genoveva Năstase, bought 600,000 shares in the private transaction, paying 1.8 million lei.
The majority shareholder, Vimetco N.V., recently informed ALRO that it had, together with the shareholder Conef S.A., launched an accelerated private placement offer of a package of ALRO shares, representing a cumulative percentage of approximately 33.77% of the share capital of the issuer, addressed to institutional investors, writes .
Transactions are being settled and, upon completion, ALRO will inform the investors and the interested public about the new shareholders structure, as required by law. Following this operation, Conef S.A. will disburse its entire shareholding in ALRO and the majority shareholder Vimetco N.V. will continue to hold a stake of about 54.19% of ALRO share capital.
ALRO is one of the largest energy consumers in Romania due to the characteristics of aluminum production process.
The companies part of ALRO Group are: ALRO S.A. – manufacturer of aluminum, Alum S.A. – producer of alumina, Sierra Mineral Holdings I, Ltd. – bauxite mining, Vimetco Extrusion S.R.L. – extrusion business line, Conef S.A. – holding and management company, Global Aluminium Ltd. – holding company and Bauxite Marketing Ltd – marketing. Having this structure, the Group created an integrated production chain, assuring the raw materials for ALRO.