Eastern Eagle fund sells share package in Romanian firm Romcarbon Buzau

Investment fund Eastern Eagle, registered in the Cayman Islands, sold a 6 percent share package in stock – exchange listed Romcarbon Buzau (symbol ROCE) for EUR 772,000. The deal, sealed at RON 0.21 per share, valued the company at around EUR 12.9 million- its current market capitalization. The company posted loss in the first nine months of the year. Eastern Eagle continues to be the biggest among minority shareholders in Romcarbon, with 14 percent. The fund has so far invested EUR 10 million in the company's shares, according to Ziarul Financiar. At the beginning of the year, the fund had 87 percent of its assets placed in SIF shares and in Fondul Proprietatea shares. Eastern Eagle also holds share packages in Mecanica Ceahlău, Braiconf Brăila, Flaros Bucureşti and Oil Terminal Constanţa. Romcarbon produces car filters, PVC products, polyethylene, expanded polystyrene. editor@romania-insider.com