Dedeman’s Paval brothers buy Letea paper factory, plan to build stadium

Anca Alexe 12/04/2019 | 10:18

Brothers Adrian and Dragos Paval, the owners of Dedeman, have agreed to buy the Letea paper factory in Bacau county from owner Sierra Quadrant, according to Ziarul de Bacau.

The Letea paper factory was established in 1879 and became the largest paper manufacturer in south-east Europe, on a land with a surface area of more than 40 hectares. It was privatised in 2003 and shut down shortly afterwards, then went into insolvency in 2011. A large part of the factory’s buildings have been demolished in recent years.

The amount the Paval brothers will pay for the factory has not been disclosed, but at the most recent auction in September 2017, the factory had a starting price of RON 43 million.

According to Ziarul de Bacau, the brothers are planning to build a football stadium that could be used for free by the Bacau City Hall.

BR Magazine | Latest Issue

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

The November 2022 issue of Business Review Magazine is now available in digital format, featuring the main cover story titled “Samsung Remains Top Consumer Tech Provider on Romanian Market.” Read
Anca Alexe | 29/11/2022 | 10:17

    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