Dan Şucu, owner of furniture retailer Mobexpert and the main shareholder of the Rapid Bucharest football club in Romania, officially took over a 77% majority stake in the Italian football club Genoa CFC following a EUR 45 million capital increase.

"The Romanian entrepreneur, through his own investment vehicle, fully subscribed to this capital increase, obtaining in return a stake of approximately 77% of the share capital of Genoa CFC, leaving the previous shareholders in a minority," according to an announcement by the Genoa football club quoted by Ziarul Financiar.

Dan Şucu's involvement "will bring economic stability and new investments to strengthen the team and infrastructure," the press release reads.

Dan Şucu has been negotiating this transaction for some time, and the discussions have accelerated in recent weeks. 

Genoa, an Italian football club founded in 1893, was owned by 777 Partners, a Miami-based investment firm, but the company failed to meet certain obligations and needed another investor. The team plays in Serie A, the top division of Italian football, and is 13th in the standings.

iulian@romania-insider.com

(Photo source: Inquam Photos/Octav Ganea)