October 8 (SeeNews) - Bucharest Stock Exchange-listed Purcari Wineries [BSE:WINE] said that Sweden-based East Capital Asset Management has increased its stake in the company to 5.68%, or 1,135,156 shares, on October 4.
East Capital Asset Management controls the shares through two of the funds it manages - East Capital News Europe and East Capital Balkans, Purcari Wineries said in a bourse filing on Monday.
You can subscribe to our M&A newsletter here
The price of the transaction was not disclosed.
As at 8:35 CET on Tuesday, Purcari Wineries shares traded 0.47% lower at 21 lei ($4.86/4.42 euro) on the Bucharest Stock Exchange. The price values a 5.68% stake in the company at some 23.8 million lei.
On October 3, Purcari Wineries' second largest shareholder at the time - Lorimer Ventures Limited, sold a 22.6962% stake in the company.
Purcari Wineries is a public company incorporated under the laws of Cyprus, which owns wineries in Romania and Moldova. The company was admitted to trading on the Bucharest Stock Exchange in February 2018 and is now part of the blue-chip BET index.
It owns over 1,000 hectares of vines and four wineries in Romania and Moldova - Bostavan, Purcari, Ceptura and Bardar. Its main markets are Romania, Moldova, and Poland.
(1 euro=4.7471 lei)