Dan Sucu, the owner of Mobexpert furniture producer and retailer and the main shareholder of the Rapid Bucharest football team, completed the purchase of a claim with a nominal value of EUR 11.7 mln against Adrian Sarbu's Mediafax Group, Profit.ro reported.

He thus holds a stake of over 50% among the group's creditors.

The main publications of the group, which has been insolvent for seven years, are Ziarul Financiar and Business Magazin.

Sucu envisages becoming the main shareholder by swapping the claim into equity.

Dan Sucu assures that he would get involved in the Mediafax Group business - but not in the editorial policy.

He began the process of taking over the claim from ING, at the beginning of this year.

Before the transaction, the market value of Mediafax Group's assets, under the forced sale scenario, was calculated at almost EUR 5.7 mln, as part of the reorganization plan. 

(Photo: Marian Mocanu/ Dreamstime)

andrei@romania-insider.com