When contacted by Business Standard, the two parties declined to provide figures on Market Online’s market value, but experts in the field estimate that the transaction is worth some €300,000-400,000. The company’s assets are subject to a downward trend, due to the economic crisis.
Market Online is included in the portfolio of Grifon Group, owned by Paula Sorescu (95 percent) and Mugur Frunzetti (5 percent). The group is currently negotiating a merger with Azerty Distribution. The result of this merger will be a company which will own 15 percent of the online IT&C sales, with two showrooms in Bucharest, 100,000 clients, and stocks in excess of RON 1 million (€0.23 mln), according to Frunzetti.
