SIF Oltenia to sell Argus Constanta

SIF Oltenia managed to purchase significant Argus stock in recent days and currently owns 18 percent of the oil producer. Argus’ largest shareholders are its employees and managers, with a total 30 percent of the shares.

Argus is the second-largest edible oil producer locally, with €35.8 million worth of business and €1.6 mln in profits registered in 2007. The company’s market capitalization amounts to €19 mln.

The edible oil market registered one of the most significant price increases in the entire food industry.

SIF Oltenia also plans to invest massively in capital market investments. Most of the €20 mln in dividends from the companies in its portfolio will be placed in stocks of BVB listed companies.

SIF Oltenia’s investment strategy focuses on companies with “strong shareholders” and on those with high liquidity, according to the SIF’s Deputy General Manager, Tudor Ciurezu.