Neole Limited, registered in Cyprus bought the 8,947 million shares of Flamingo at 0.0334lei/share.

US-based firm QVT said it had sold its 21.96% equity in Flamingo for 5.13 million lei (€1.2 mln).

Flamingo International has a share capital of 77.9 million lei divided into 799.05 million shares at a face value of 0.1 lei. The company’s capitalization is 23.37 million lei (€5.5 mln), according to the closing quote of 0.03lei/share.

The electronics retailer’s sales fell to 369.1 million lei (€87.4 mln) in first half, 23% below year-ago levels.