According to a press release issued by ASF (Insurance Supervisory Commission) of BVB (Stock Exchange Market in Bucharest) and cited by bursa.ro, ASF has approved the public bid for the mandatory takeover of Giurgiu Nav SA (abbreviated GIUR) by Interagro SRL. The public takeover bid is to take place between 1 and 22 August and is aimed at purchasing 1.64 million GIUR shares by SC Interagro SRL (the equivalent of 7.4552 per cent of the company’s share capital) for the price of RON 0.85 per share, the nominal value for a GIUR share being RON 0.6. The bidding intermediate is SSIF Swiss Capital SA. Interagro SRL, owned by businessman Ioan Niculae, currently holds 92.5448 per cent of the share capital of SC Giurgiu Nav SA. The GIUR shares were purchased by Interagro through a single secondary market transaction on September 10, 2012.