Bulgaria’s Buildcom to take over Romanian vegetable oil producer Argus Constanţa

Infinity Capital Investments (BVB: INFINITY) has entered into an agreement with Bulgarian company Buildcom EOOD for a potential transfer of all the shares it holds in Romanian vegetable oil producer Argus Constanţa (91.42%), the company said in an announcement at the Bucharest Stock Exchange (BVB). The agreement also covers the shares held by Argus in Comcereal S.A. Tulcea, a joint-stock company.

The completion of the agreement depends on the fulfilment of certain conditions, including but not limited to the regulatory approvals from the Romanian authorities.

The price per share will be determined by adjusting the amount of EUR 14,500,000, the agreed enterprise value of the companies.

Argus is active in the production of vegetable oils and fats, having as its main activity the production and marketing of crude and refined sunflower oils and fats, fodder meals, and fatty acids.

Buildcom EOOD, established in 1994, is a Bulgarian company active in international trade in agricultural products, such as wheat, corn, barley, peas, rapeseed, sunflower, etc. Buildcom is affiliated with Oliva AD, the largest producer of raw and refined sunflower oil in Bulgaria.

(Photo source: Ryzhov Sergey/Dreamstime.com)