Investment Fund Al Dahra Holding took over Agricost Braila, the largest agricultural producer in Romania, owned by the entrepreneur Constantin Dulute, in a deal announced from the beginning of the year and estimated at over EUR 230 million euros.
According to G4Media, the agreement was approved by the Competition Council. In spring, United Arab Emirates (UAE) located Al Dahra Holding announced that intends to expand on the agricultural market in Romania and Serbia, with the intention of cultivating 30,000 hectares in Romania and another 20,000 hectares in Serbia.
Al Dahra is part of Al Ain Holding, controlled by Sheikh Hamdan Bin Zayed Al Nahyan, former Deputy Prime Minister of the United Arab Emirates, the youngest brother of the current emir and president of the United Arab Emirates, Khalifa bin Zayed Al Nahyan.
The group operates in more than 20 countries, owns and operates an area of more than 200,000 hectares, 8 forage presses and production, 4 rice milling units and 2 flour grinders.
Agricost Braila, the largest agricultural producer in Romania, operates 57,000 hectares in the Marea Insula a Brailei and receives subsidies of about EUR 10 million per year.
Last year, the company with 830 employees, reached revenues of RON 359 million and a net profit of RON 73.3 million.