Altex holds 96.87% stake in the company and it will run a public offering for the acquisition of the remaining 3.12% of the share capital.

At the shareholders meeting, shareholders approved the valuation report for the fixing of price per share that will be paid to minority shareholders. The price has not yet been disclosed.

Cometex reported a net profit of around 5.9 million lei (€1.4 million) for the nine months through September this year, up 35%, as turnover increased twofold from the same period of last year.

The merger between Altex Romania and Cometex due for completion this year has been shelved according to a decision of the shareholders.

The company has a share capital of 932,832 lei, divided into 373,133shares at a face value of 2.50 lei.

Cometex has a market value of 35.44 million lei (€8.34 million), according to yesterday’s closing quote of 95 lei/share.