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Alexandru Ion Tiriac Ups His Stake In Romanian Flamingo At 5.12%

Alexandru Ion Tiriac, the son of Romanian businessman Ion Tiriac, increased his stake in electronics retailer Flamingo International (FLA.RO) at 5.12%, after buying 0.12% of the company’s shares on the Bucharest Stock Exchange.
Alexandru Ion Tiriac Ups His Stake In Romanian Flamingo At 5.12%
19 mart. 2009, 11:53, English

Prior to this transaction, Alexandru Ion Tiriac owned a 4.9999% stake in Flamingo.

At around GMT0900, Flamingo shares were trading at 0.0419 lei (EUR1=RON4.2939) per unit, up 11.73% compared with the reference price.

The company’s main shareholder is Romanian businessman Dragos Cinca, with a 25.19% stake.

Since the beginning of February, local businessman Dan Adamescu intensively began to buy Flamingo shares through the companies he owns, Astra Asigurare Reasigurare and Nova Trade. Following the deals, Adamescu’s indirectly-owned stake in Flamingo rose to around 20%.

According to latest data, the company’s other shareholders were US investment fund QVT Fund, with a 15.16% stake, Flanco Holding, with a 10.59% stake, while investment funds Deutsche Bank and DWS Polska TFI own together 6.48% of Flamingo’s shares.