The businessman is likely to earn some €7.5 million, including deals with Flamingo shares on the stock exchange. Andronescu got the stock in 2006, following the Flanco-Flamingo merger. Given his initial investment in Flanco amounted to some €300,000, Andronescu's earnings are 25 times higher than the sum he first placed in the company.
The General Manager of CA IB Securities, Liviu Giugiumica, told Business Standard he was not mandated to buy the stock Flanco Holdings owns in Flamingo.
Representatives of Oresa Ventures investment fund, owners of two thirds of Flanco Holdings, could not be contacted before closing the edition.
