CYPRIOT FUND TO ACQUIRE LARGE STAKE IN ROMANIA’S ASIROM

Cyprus-based investment fund Lindsell Enterprises is to take a 41.7% stake in Romania’s largest insurer Asirom, for up to 185bn lei, in a public purchasing offer that has been approved by Romania’s National Securities Commission. Asirom’s current shareholders are Inter Agro with 33%, the State Ownership Fund with 17%, Astra Romana with 15%, the Agricultural Bank with 10%, Broadhurst Investment with 8% and other shareholders with 17%. Lindsell Enterprises and Broadhurst Investment — which is also a Cypriot fund — aim to hold jointly a 49.9% stake in Asirom.