Advent sells Ceramica Iasi for more than EUR 10 M


Advent sells their 84.88 per cent of the shares owned at Ceramica Iasi, producer of ceramic blocks and tiles bought in 2007 for more than EUR 35 million to an investment fund registered in Hong Kong, Brikston Cooperatief, according to a report of Ceramica Iasi regarding changes in the indirect control, sent to Bucharest Stock Exchange on Monday. The announcement does not reveal who controls the new shareholder, nor the value of the transaction, but sources on the market estimate that it might exceed EUR 10 million, reports Mediafax. Brikston Cooperatief is a vehicle owned by the investment funds management Asia Dept Management, at their first acquisition in Romania.

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