Austrian businessman takes over Romanian electro-IT retailer Domo

Austrian investor Eugen Petrov has recently taken over as sole shareholder the Romanian electronics retailer Domo, following a management buyout process, according to an official announcement made on Thursday, October 3, 2014. The value of the deal was not made public. Petrov has been president of the administrative board for Domo since 2012. Domo was previously owned by Domtech, an investment fund registered in Switzerland. “My main objective as a shareholder is to take Domo to positive financial results,” said Petrov. He added that he trusts the management team led by South-Korean Kim Koellner. Domo is one of the largest electro-IT retailers in Romania and operates a network of 91 stores and an online shop www.domo.ro. The company had sales of EUR 130 million and losses of EUR 9.4 million, in 2013. It had more than 1,000 employees. editor@romania-insider.com