Romanian businessman Dan Sucu, the founder of furniture production and retail group Mobexpert, purchased the claim held by the main creditor of Mediafax Group - ING Bank Romania - and intends to become the group's main shareholder, Profit.ro reported.

The claim held by ING bank Romania accounts for over half of the total claims held by debtors against Mediafax Group - which has been under insolvency since December 2014.

When it entered insolvency, the group owed EUR 40 mln - of which EUR 15.4 mln to ING bank - but part of the debt was paid back by the sale of assets meanwhile.

The deal's details were not disclosed, but the assets of Mediafax Group were evaluated, under the scenario of a forced execution procedure, at EUR 5.7 mln.

Mediafax Group, founded by businessman Adrian Sarbu - now includes the daily Ziarul Financiar and the weekly Business Magazin, while the news agency Mediafax is owned by Mediafax SA.

The group is managed by Adrian Sarbu while under the administration of court-appointed manager KPMG. In 2020, Mediafax Group reported EUR 4.2 mln turnover and EUR 1.1 mln losses. 

(Photo: Marian Mocanu/ Dreamstime)

andrei@romania-insider.com