Two Cyprus-based Investment Funds To Squeeze Out Minorities in Romania's Policolor

The two investment funds, acting jointly with minority-shareholder Cyprus-based Romanian Reconstruction Ltd., currently control 95.69% of Policolor, Intercapital Invest said in a statement.

They would pay 4.28 lei ($1.51/1.05 euro) per one Policolor share over a period of 12 working days starting with the date of the announcement of the squeeze-out offer.

Policolor shares were last traded 4.65% up at 4.28 lei on December 22 on the BVB. They were suspended from trading on December 23.

Trading on the BVB is suspended between December 24 and January 4 for the winter holidays.

(1 euro = 4.0572 Romanian lei)