British fund manager takes significant position in Romanian winemaker Purcari

British fund manager Standard Life Aberdeen, with assets under management worth EUR 669 billion, reached a stake of over 5% Romanian-Moldovan wine producer Purcari, as of October 30.

Several funds managed by Standard Life Aberdeen hold 1 million shares representing 5.04% of Purcari's share capital, according to a report on the Bucharest Stock Exchange.

At current trading prices, the value of the SLA investment in Purcari amounts to RON 22 million (EUR 4.6 mln). Standard Life Aberdeen, the largest asset manager in the UK, is listed on the London Stock Exchange and is a constituent of the FTSE 100 index.

Since the beginning of the year, Purcari’s shares rose by 32.5%, the issuer reaching a market capitalization of RON 440 mln (EUR 93 mln).

Ukrainian private equity firm Horizon Capital recently sold its remaining stake in Purcari (22%) in a EUR 19 million private placement, allowing international funds to increase their stakes in the company.

The company’s biggest shareholder is Amboselt Universal INC, an investment vehicle controlled by Purcari CEO Victor Bostan, with a 25% stake, while several international investment funds own stakes between 5% and 10%. Canadian investment fund Fiera Capital holds 9.6% of Purcari’s shares, Conseq, one of the largest fund managers in the Czech Republic, has a stake of 6,2%, Swedish management company East Capital has a 5.6% stake, funds managed by Swedish group SEB Capital hold another 5.5%, and Franklin Templeton owns 5.1%.

(Photo: Pixabay)