SIF Transilvania: We have some €50 million to buy a company abroad

SIF Transilvania can afford a transaction worth over €50 million, according to company representatives. Mihai Fercala, President of SIF Transilvania, went on to say that if the shareholders approve the strategy, the company could proceed with an acquisition next year.

Gross profit of SIF Transilvania in 2007 was €32.8 mln, up 84 percent year-on-year, placing it second among most profitable SIFs. It had top net assets, worth €827 mln.

SIF Transilvania representatives mentioned that they are interested in any area, and that they will use money obtained by the end of 2008 for the acquisition. “What is important is that we find a company that has good perspectives and which is for sale,” added Fercala.

Financial investment companies invested mostly in Bucharest Stock Exchange listed companies.