Paval Holding, the holding developed by brothers Adrian and Dragos Paval, the owners of the country’s largest DIY chain - Dedeman, has become a shareholder of the corrugated cardboard producer Vrancart Adjud (VNC), whose shares are trading on the Bucharest Stock Exchange, following a major transaction last week.

Paval Holding bought a 17% stake in Vrancart, a stake worth RON 28 million (EUR 5.8 mln), according to a notification sent to the Bucharest stock Exchange.

Private pension fund manager Allianz Tiriac Private Pensions, through the AZT Viitorul Tau, AZT Moderato and AZT Vivace pension funds, liquidated its 10% stake in Vrancart, held since November 2016, BVB data shows.

NN Pensii, another pension fund manager, also sold its 5.3% stake in the company, according to the stock market reports.

Investment company SIF Banat-Crisana controls 75% of Vrancart’s shares.

The company, which has a market capitalization of EUR 35 million, recorded a turnover of EUR 62 million and a net profit of EUR 3.7 million in 2018.

(Photo: Pixabay)

editor@romania-insider.com