Dedeman, the biggest do-it-yourself retailer in Romania, continues its strategy to diversify its portfolio and has bought a minority stake in oil pipe operator Conpet Ploiesti.

Dedeman’s stake in Conpet is 7.4% and has a market value of some EUR 15.5 million, according to reports on the Bucharest Stock Exchange.

Dedeman, a business founded and controlled by local investors Dragos and Adrian Paval, gave up the idea of buying a big office complex in Bucharest, AFI Park, last year, and started investing in companies listed on the Bucharest Stock Exchange. The group has reached significant minority stakes in energy companies such as Transelectrica and Electrica and has bought a majority stake in brick producer Cemacon.

State companies in the energy sector have drawn the investors’ attention due to the high dividend yields they offered in recent years.

The Dedeman owners also invested EUR 2 million in a local platform that aims to help distressed companies.

editor@romania-insider.com