July 18 (SeeNews) - Romanian integrated dairy company Agroserv Mariuta [BSE:MILK], operating under the brand name Laptaria cu Caimac, said on Tuesday that it has concluded a financing agreement with local savings bank CEC, for a total value of 9.5 million euro ($10.6 million).
"The financing is structured on short- and long-term and is intended for the refinancing of the loan portfolio from Banca Romaneasca and Procredit bank," Agroserv Mariuta said in a filing with the Bucharest Stock Exchange.
The agreement will give the company more efficient financial costs and a structure that will make it easier to finance future projects, such as a biogas plant and glass packaging sanitization line.
Agroserv Mariuta debuted on the AeRO market of the Bucharest Stock Exchange in May 2021. Following the acquisition of over 5% of the share capital by local company Evergent Investments, Agroserv’s three founders hold a 71.6% stake among themselves, while the remaining stake of 23.4% is in free float on the Bucharest Stock Exchange.
Agroserv Mariuta shares traded 3% lower at 5.82 lei ($1.32/1.17 euro) by 0907 CET on Tuesday on the Bucharest bourse.
($=0.8889 euro)