Do-It-Yourself retailer Dedeman, the largest entrepreneurial business in Romania, acquired 13.4 million shares representing an 11.7% stake in the local brick producer Cemacon Zalau on December 11.

With a current stake of 40.7%, Dedeman has become the largest stakeholder in the brick producer. According to the law, Dedeman will have to launch a public takeover offer for the remaining shares in the company.

The retailer bought the shares at a price of RON 0.55 per share. The transaction thus amounted to RON 7.4 million (EUR 1.6 million).

Business Capital for Romania (33%) is the second largest shareholder in Cemacon, with a stake of 33%. The brick producer, which is based in Zalau, North-Western Romania, recorded a net profit of RON 13.8 million (EUR 2.9 million) in the first nine months of this year, double compared to the same period last year. The turnover amounted to RON 73.9 million (EUR 15.9 million) during this period.

Dedeman has an annual turnover of RON 5.2 billion (EUR 1.1 billion).

editor@romania-insider.com