By Emea Riga
Paval Holding, the investment vehicle of brothers Dragoş and Adrian Pavăl, owners of the retailer Dedeman, owns over 23% of ALRO Slatina / Romania, according to information made public on the Bucharest Stock Exchange.
Dragos and Adrian Paval recently founded Pavle Holding, a company with social capital of one billion euros, the largest direct holding of Romanian entrepreneurs. Pavăl Holding is the largest company set up in 2018 according to the share capital and is owned by Dragoş Pavăl in a proportion of 60% and by Adrian Pavăl of 40%.
Paval Holding owns 23.16% of the aluminum producer’s shares. The date of exceeding the 20% threshold is 19 December, a day characterized by a sharp decline in the Bucharest Stock Exchange.
The majority shareholder, Vimetco NV, recently informed ALRO that, together with its shareholder Conef SA, has been offering an accelerated private placement offer, an ALRO share package, representing a cumulative percentage of approximately 33.77% of the share capital of the issuer, addressed to institutional investors, according to some information sent to the Exchange.
The companies belonging to the Alro Group are: Alro (the primary and processed aluminum producer, Alum (alumina producer), Sierra Mineral Holdings I, Ltd. (bauxite extraction company), Vimetco Extrusion SRL (extruded aluminum producer) Conef (holding and management company), Global Aluminum Ltd. (holding company) and Bauxite Marketing Ltd (marketing).
Alro is a subsidiary of Vimetco N.V., a global primary and processed aluminum company, vertically integrated. Alro is one of the largest vertically integrated manufacturers in Europe, with capacity, with an installed production capacity of 265,000 tons per year.
The main markets for Alro products are the European Union, but the company also exports to the US and Asia.
By Emea Riga