Altex plans real estate division

Newsroom 14/09/2007 | 16:20

The company is to merge Cometex Suceava, which owns commercial space covering some 28,000 sqm in Suceava city, and another company in the group, Real Estate, according to Ostahie, quoted by local media. The company resulting from the merger will be the group's real estate division, led by Gabriela Bodron, currently acting as CEO of the two companies. It could also be listed on the Bucharest Stock Exchange. New commercial developments are among the targets Ostahie has for the new real estate division.
Altex group took over Cometex in 2005 following a stock exchange transaction, for some EUR 7.5 million.
According to company officials, Cometex is currently posting a EUR 700,000 profit a year. Real Estate controls around 14,000 sqm of commercial space around the country.
Altex accounted for EUR 220 million of sales in 2006, a 20 percent decrease on 2005. The firm blamed the drop on its restructuring and a program which included the opening of large stores, along with closing smaller ones.

Corina Saceanu

BR Magazine | Latest Issue

Download PDF or read online: October 2022 Issue | Business Review Magazine

The October 2022 issue of Business Review Magazine is now available in digital format, featuring the main cover story titled “Globalworth Successfully Addressing Market Challenges From a Position
Newsroom | 26/10/2022 | 17:53

    You will receive a download link for the latest issue of Business Review Magazine in PDF format, based on the completion of the form below.

    I agree with the Privacy policy of business-review.eu
    I agree with the storage and handling of my data by business-review.eu
    Advertisement Advertisement
    Close ×

    We use cookies for keeping our website reliable and secure, personalising content and ads, providing social media features and to analyse how our website is used.

    Accept & continue