The Equest Investments Balkans Limited (EIB) investment fund took over 75% of the social capital of the Domo Company, one of Romania's largest electronics and home appliances retailer. The total value of the transaction amounted to 62.5 million euro, informs a company press release.
EIB took over the majority stake in Domo through its subsidiary Lynx Properties. Domo’s General Director Lorand Szarvadi-Teglas said that the EIB partnership transforms Domo in a powerful company and assures the necessary resources to dominate the market.
EIB representatives announced the takeover on July 20 and the Competition Council approved the transaction on September 17.
However, Domo founding shareholders will maintain 25% of the total shares.
Currently, Domo has 116 retail units in the Romanian big cities. Last year alone, the company reported sales of more than 121 million euro.