Albalact delisted from BVB by new owner

Shares of dairy producer Albalact have been withdrawn from the Bucharest Stock Exchange (BVB), marking the delisting of the company from the local stock exchange.

Albalact shares had been suspended from trading since November 23 2016. Last year, the company was acquired by French group Lactalis in a high profile deal on the Romanian M&A market.

The group owns the Albalact, Raraul and Zuzu brands. In the first nine months of 2016, Albalact recorded a 17.3 percent hike in net revenue to RON 366.98 million. Its net profit stood at RON 23.8 million.

Albalact appointed Giampaolo Manzonetto as new general director this April. Following this move, he will manage all the operations of Lactalis in Romania, which also comprise LaDorna and Parmalat.

The company was founded by Romanian businessman Raul Ciurtin.