Genfield Investments AG Exits Sunpro Oils SRL Shareholding

By Romania Journal Last updated Jan 13, 2025

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The Swiss holding company Genfield Investments AG, which owns all the assets and carries out corporate management for the companies in the SunPro oil production group, has exited the shareholding of Sunpro Oils SRL, a local legal entity established in 2023 with the aim of investing in a sunflower oil factory in the Galati Free Zone, according to data analyzed by Economica with the help of termene.ro. In addition, according to data from the National Trade Register Office, in November, Sunpro Oils SRL benefited from a capital contribution from Cyprus worth 527,600 euros.

Specifically, Genfield Investments AG transferred all 262,500 shares it held in the company, i.e. 25% of Sunpro Oils’ share capital, to the Cypriot company Erdigama Limited, one of the three founders of Sunpro Oils. Erdigama thus came to control 50% of the business.

The remaining 50% of the shares remained with Koksi Holding Ltd, an investment vehicle active in the markets of Ukraine, the Baltic countries, Cyprus and Hungary. Koksi, a business of Cypriot entrepreneur Oksana Kushnir, has in its portfolio, in particular, investments in real estate and in the production of energy-efficient technologies. The nominal value of the shares transferred by the Swiss from Genfield Investments AG is 91,000 lei.

Regarding the investment in Galati, it is currently awaiting environmental approvals, given that Sunpro Oils changed the initial project.

“The company has completed the design stage taking into account the characteristics of the concessioned land, and is now in the stage of obtaining permits. They have obtained all the approvals related to the municipality, but some environmental approvals are still required, which will require more time,” Economica sources stated in September 2024.

The company has already brought to Galați some of the equipment it will install in the new production unit, which will require an investment of 20 million euros.

Sunpro Group is a group of companies specialized in the production of crude sunflower oil, headquartered in Switzerland. The group owns and operates processing facilities located in Ukraine, in the Odessa area, and supplies sunflower oil to 11 countries around the world.

In February 2023, the company concluded a concession contract with the Galați Free Zone for a 5-hectare land area in the Galați Free Zone, for a period of 49 years. The producer announced at the time that it would invest 20 million euros in an oil factory for which it would employ 200 people.

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