Fondul Proprietatea – CE Oltenia’s profit before taxes amounted to RON 200 mn
According to the media, CE Oltenia, the company set up on May 31, 2012 through the merger of CE Turceni, CE Rovinari and CE Craiova with a mining company, has posted for seven months sales of RON 2.2 bn and a profit before taxes of RON 200 mn. The power delivered during this period totaled 9 TWh. In 2011, the three power generators merged into CE Oltenia had a combined quantity of power sold of 18.1 TWh (for 12 months) while their combined profit before taxes amounted to RON 160 mn. Therefore, we see the news as positive for Fondul Proprietatea’s shares.
PCC bought the 14% stake in Oltchim from Carlson Ventures
According to a release to the stock exchange, PCC announced that it took over the shares package owned by Carlson Ventures in OLT (14.02% of the share capital of the chemical producer). The value of the transaction is unknown as it did not take place through the stock exchange, as PCC bought a Cyprus company holding the stake in OLT. At the moment, PCC owns directly and indirectly some 32.3% of the share capital of Oltchim.
