Friday, March 23, 2007

Romania: Porto Petrol, majority shareholder of Sinteza Oradea

23 March 2007

Porto Petrol SRL was reported as majority shareholder of the Oradea-based chemical company, holding 51.83% of its share capital.

Porto Petrol reached its present participation in Sinteza after absorbing Timisoara Plaza Center SRL and Trans World Trading SRL, each holding 48.8% and 3% respectively in Sinteza.

Porto Petrol is controlled by Mirela Pongracz, Ioana Pop, Gratian Peltic and Cristian Pop, each owning a 25% interest.

Another important shareholder of Sinteza is businessman Tibor Tincau, with a 27.5% stake. The chemical company has a market value of €10m and a trading price of RON 0.51/share.

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