BUCHAREST (Romania), September 18 (SeeNews) – Cyprus-based Midfair Limited has acquired the 21.96% stake of U.S. QVT Fund LP in Romanian electronics and IT retailer Flamingo International, the retailer said in a filing with the Bucharest bourse, BVB, on Friday.
QVT Fund LP sold its 171.1 million Flamingo International shares at 0.03 lei per share, or for a total of 5.1 million lei ($1.7 million/1.2 million euro), to an unnamed buyer on the BVB on Monday.
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Flamingo International shares corrected downwards by 9.95% to 0.0389 lei on Friday, after gaining 68% over the past six trading sessions.
QVT Fund LP and individual investor Cinca Dragos Daniel were the largest single shareholders in Flamingo as of August 31 with respective stakes of 22% and 25.2%, bourse data showed.
(1 euro = 4.2632 Romanian lei)