Dedeman owners reach 5.5% stake in Romanian state-owned electricity transporter

Romanian investors Dragos and Adrian Paval, who own the Do-It-Yourself retailer Dedeman, acquired a 4.8% stake in the state-owned electricity transporter Transelectrica yesterday. They currently own a 5.5% stake, which has a market value of EUR 25 million The two investors also hold a 29% stake in the brick manufacturer Cemacon. Dragos and Adrian Paval have a wealth estimated at EUR 920-950 million. They were also interested in buying AFI Europe’s AFI Park office project earlier this year but didn’t go through with the transaction. Dedeman is the first company with 100% Romanian private capital with sales of over EUR 1 billion. Last year, the retailer had a turnover of EUR 1.17 billion and a net profit of EUR 159 million. The group strongly developed during the crisis, when several competitors withdrew from the market or went bankrupt. The company currently owns 44 stores in Romania and has over 10,000 employees. editor@romania-insider.com