Romanian businessman George Copos sold the electric engine producer Ana Imep Ploiesti to Japanese group Nidec Corporation. The deal was announced on Friday but its value was not made public.

Copos may have got close to EUR 20 million for the 94.8% stake he owned in the company, according to sources familiar with the deal, cited by local Mirsanu.ro.

Nidec Corporation is listed on the New York Stock Exchange. The group has a turnover of over EUR 8 billion and close to 100,000 employees.

Ana Imep had a revenues of EUR 14.8 million and 288 employees, in 2015, according to Nidec’s report on the New York Stock Exchange. Its business declined from almost EUR 20 million, in 2011.

In 2006, Copos had a EUR 40 million offer from American group Emerson, but refused to sell.

editor@romania-insider.com