The Board members of Albalact have submitted the resignation on Monday, two French citizens and one Spanish being provisionally appointed in their place, considering that the Competition Council authorized in July Albalact’s takeover by B.S.A. International, the French company that is the parent company of Lactalis Group, according to an information sent to the Bucharest Stock Exchange (BVB).
“The members of the Board of Directors of Albalact, namely Petru Raul Ciurtin, Petru Ciurtin and Cornelia Mioara Oancea have each filed resignation letters from the position of the member in the Board of Directors, producing effects as of September 19, 2016,” the source notes.
Thus, the interim administrators of Albalact until the appointment of new directors by the Ordinary General Meeting of company’ shareholders are: Aurelio Antuna Rodriguez, Spanish citizen who will hold the function of interim Chairman of the Board of Directors, Gilles Joseph Stephane Meziere and Michel Francois Jacques Auguste Peslier, French citizens.
The Competition Council has authorized the economic concentration achieved by the taking over of SC Albalact SA, SC Rarăul SA and SC Albalact Logistic SRL by B.S.A. International.
Lactalis Group sells in Romania dairy products manufactured both locally by Dorna and Dorna Lactate companies, as well as dairy products manufactured abroad and imported in Romania.
SC Albalact has as main activity the manufacture of dairy products and cheese, and SC Rarăul SA is a subsidiary of Albalact.
The French group Lactalis, the largest dairy producer in the world, has offered a minimum price of RON 0.5252 per Albalact share. This means about RON 340 million for what was the last company in the local dairy industry with Romanian capital.