Adrian and Dragos Paval, owners of Dedeman, the leading company in Romania in the DIY retail segment, are slowly but surely strengthening their position on the electricity market.
According to an announcement sent to Bucharest Stock Exchange (BVB), Pavals hold 5.56 percent of Transelectrica, Romanian electricity transmission system operator, after a transaction through which they bought 500,000 TEL (ticker symbol) shares through Dedeman SRL from Bacau. As of August 29th, 2006 Transelectrica’s shares are traded on the Romanian capital market under Premium category.
Prior to this transaction, the two Romanian businessmen owned 3.58 million shares of Transelectrica, which accounted for 4.88 percent of the company’s capital.
After the deal, the value of Pavels’ stock package in Transelectrica amounts to about RON 117 million.
Besides Dedeman, Paval brothers also own almost a third of Cemacon brick maker’s shares.
Recently, the two entrepreneurs intended to enter the real estate market by acquiring the five office buildings of AFI Europe Romania, but the deal, evaluated at almost EUR 170 million, failed.