Romania's Visual Fan buys additional stake in Intervision Trading Ro

The value of the transaction is lower than 2% of Visual Fan's turnover, the company said in a report filed with the Bucharest Stock Exchange.

Following the transaction, Visual Fan will own 61% of Intervision Trading.

In January, Visual Fan announced it had received the approval of the national anti-trust body to acquire 51% of Intervision's share capital.

Visual Fan, founded in Brasov in 2002, manufactures smartphones, smart home systems, tablets, laptops and other gadgets.

Its net profit fell to 8.4 million lei ($1.7 million/1.7 million euro) in 2021, from 23.4 million lei the year before, while revenues dropped to 121.3 million lei last year, compared with 406.4 million lei in 2020, data from the finance ministry's website showed.

Founded in 1996 and AKAI distributor since 2009, Intervision Trading posted a net profit of 5.3 million lei in 2021, according to finance ministry data. Intervision distributes AKAI products in Romania, Bulgaria, the Czech Republic, Croatia, Greece, Poland, Slovakia, Slovenia, Hungary, Montenegro, Moldova, Albania and Ukraine.

Visual Fan's shares traded flat at 8.9 lei by 1245 CET on Thursday, data from the Bucharest Stock Exchange showed.

(1 euro=4.9010 lei)