Canadian group Delamore&Owl is interested in buying Romanian sunflower oil producer Argus Constanta owned by local investment fund SIF Oltenia.

SIF Oltenia, which has a share of 86% in Argus, has already signed a memorandum with Delamore, enabling it to start the due diligence process.

After this memorandum was made public on January 13, the producer’s shares rose by 20% on the Bucharest Stock Exchange, reaching RON 3.5 per unit. The value of SIF Oltenia’s stake in Argus would thus amount to over EUR 23 million.

Delamore is active in trading goods, consultancy, energy and financial services and manages USD 5 billion worth of assets.

editor@romania-insider.com

(photo source: Argus-oil.ro)