Romanian businessman Sebastian Ghita made an exit from the largest Romanian IT&C distribution company Network One Distribution (NOD), which he founded together with Iulian Stanciu in 2002. Ghita also made an exit from eMAG and Flanco, withdrawing from the IT&C sector altogether.

Stanciu thus became the sole shareholder of the company, which last year posted a turnover of EUR 201 million, and the sole shareholder of the retailer Flanco, a company with a EUR 110 million annual turnover.

The value of the deal between the two shareholders was not announced. Ghita sold his shares in online retailer eMAG, Franco and NOD, in order to invest in other areas. Sebastian Ghita, who founded the Asesoft group in 1997, previously invested in the vineyard Rutherfield Properties in 2009, which later became Societatea Budureasca, and plans to further invest in wine tourism. He is also involved in the media segment, another area he plans to focus in the future. He currently owns a Romanian TV channel.

editor@romania-insider.com