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May 17, 2022

Patriciu sells Adevarul Holding…

Dinu Patriciu has sold his 99.9 per cent stake he held as an individual in Adevarul Holding SRL to a Dutch company, Realitatea.net reported yesterday. ‘On April 15, the General Meeting of Shareholders of Adevarul Holding SRL, Dinu Patriciu and Adevarul Distributie SRL, with the last one legally represented by Peter Imre, sanctioned the sale of 39,667,180 shares with a nominal value of RON 10, Patriciu held in the company, according to a notice published in the Romanian Official Journal. Dinu Patriciu undertakes it to irrevocably surrender 99.9 per cent of the company, together with all the rights and obligations in connection with the stock and accounts receivable to the buyer. The buyer is Fast Europe Media N.V., a Netherlands registered limited liability company owned by… Dinu Patriciu. Believed to be the richest Romanian, Patriciu conducts several businesses via companies registered in the Netherlands, Mercadia, the firm operating the Mic.ro mini-market chain being one of them. Patriciu confirmed to Money.ro that he practically sold Adevarul Holding to himself. ‘Yes, the company is mine. I made this decision because I plan to grow the business. It is now acquiring an international profile after going to Moldova and Ukraine and I intend to target other countries as well. I cannot say which, but they are in the same region. There will be print as well as web-based products’, Patriciu said.

The free newspapers network “Adevarul de seara” (ADS) will be dissolved, “Evenimentul Zilei” argued, in its yesterday edition, quoting information from the www.paginademedia.ro website. ADS is, allegedly, to become an inset supplement to sold issues of “Adevarul”, to be distributed with regional editions of the latter. According to the same source, the publication of “Adevarul de Duminica” will also be discontinued. Sabin Orcan, editor-in-chief of “Adevarul de seara”, stated, for Mediafax, that the paper will be coming out in a new format. “’Adevarul de seara’ won’t cease to exist as of June 1. It will be coming out in a new format, which I do not wish to reveal as yet. Our editing offices across the country won’t be restructured, but, on the contrary, we will be recruiting more staff, as we have a lot of projects – online, on TV, at ‘Click’,” Orcan argued.

In turn, Narcis Drejan, the paper’s deputy editor-in-chief, argued that, as of June 1, the 39 local subsidies will become regional supplements of “Adevarul”.

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