Romanian Nova Trade Buys 14.09% Stake In Intercontinental For RON11.7M

Romanian Nova Trade bought Monday a 14.09% stake in hotel company Intercontinental Bucuresti on the Bucharest Stock Exchange, for 11.7 million lei (EUR1=RON3.8121).

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Thus, Nova Trade bought 117,451,900 shares at an average price of RON0.1 per share.

US’ investment fund Artio International Equity Fund, former Julius Baer International Equity Fund, sold the highest stake, of 7.52% in the company.

Nova Trade is owned by the Adamescus’, who equally holds Unirea Shopping Center in the capital city Bucharest.

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