Iulian Stanciu holds all the reins in Flanco and Network One Distribution

Newsroom 20/08/2012 | 11:46

The shareholding structure of IT&C retailer Flanco and distribution company Network One Distribution (formerly Asesoft Distribution) has changed, Iulian Stanciu (in picture) becoming the only shareholder in the two entities. The transaction will become effective after the Competition Council gives its approval.

“As a continuation of the transaction between eMAG and Naspers, I wanted to simplify the shareholding structure of the companies in the group that I am leading- which is made up of eMAG, Flanco and Network One Distribution (NOD). I have confidence that together with eMAG, Flanco and NOD will have a positive evolution because they are financially stable and have the right strategy for the market segment in which they operate,” said Iulian Stanciu.

Businessman Sebastian Ghita controlled 50 percent of the shares in the two companies. Recently, Ghita sold all the shares he had in eMAG to Naspers group.

He also transferred to family members shares in other IT&C companies he had, for example 2K Telecom is now controlled by Ghita’s family, according to Ziarul Financiar. Ghita told the media he intends to focus on new ventures in the energy and media field. Already in the media, Ghita controls Romania TV channel (RTV).

“We are investing in the development of our own brands, where there are already good results, both in the range of electronic home appliances Heinner, IT Serioux products as well as Horizon display products, all of which have success on the local market. We are continuing the multi-channel development strategy, allocating specialized resources to any re-sale channel,” said Razvan Ziemba, general manager Network One Distribution.