Romanian aluminum producer Alro Slatina officially announced on Monday, June 18, its majority shareholder’s intention to sell a stake in the company by public offer.

The announcement doesn’t say how big the stake on sale will be or if the transaction will take place only on Bucharest Stock Exchange.

Dutch-based Vimetco group, controlled by Russian investor Vitaliy Machitski, currently owns 84.2% of Alro’s shares. Alro currently has a market capitalization of close to EUR 550 billion, after its share price has doubled in the last 12 months, but the liquidity of its shares is low. The group had sales of over EUR 580 million and an operational profit (EBITDA) of over EUR 120 million.

“This is exciting news for Alro. Alro has become a key player in the global aluminum market, with strong heritage, scale and international presence. We have a strong management team, that has worked together for many years with a clear strategy to continue to grow Alro’s presence with major customers across the EU and beyond, and a proven track record of growth and strong cash flow generation,” said Marian Nastase, Chairman of Alro.

Deutsche Bank and UBS will be the joint global coordinators of the public offer, with BCR, BRD, BT Capital Partners and Raiffeisen Centrobank acting as co-lead managers.

Owners of Romanian aluminum producer Alro looking for options to reduce their stake

editor@romania-insider.com