The owner of the Paralela 45 travel agency, Alin Burcea, will take control of the company Invitation Invest, which owns the Invitation Romania Travel agency, specialized in incoming tourism.
Part of the documents for the transfer of the controlling stake have already been signed in the presence of both parties. Thus, Burcea will take over 55% of the shares from the Fodoreanu family, who are exiting this business. The remaining stake will stay in the possession of Mirela Iordache, Executive Director of the company since February 2009.
The actual management of the acquired company will be handled by Simion Alb, the former head of the tourism representative office in New York, considered by the industry to be the most valuable specialist in Romania’s tourism promotion and appointed a year ago to lead the incoming department of the Paralela 45 agency.
Simion Alb and Gheorghe Fodoreanu did not wish to comment on this subject, and Burcea, in turn, said: “The transaction is not 100% finalized. There are still stages to go through.”
In 2018, Invitation Invest reported a turnover of 15.7 million RON, a modest loss of 4,681 RON, and total debts of 1.56 million RON.
Paralela 45 estimated sales of 70 million EUR for last year, an increase of 20% compared to 2018.
Source: Profit
Frequently Asked Questions
Who is taking over Invitation Romania Travel?
Alin Burcea, the owner of Paralela 45, is acquiring a 55% controlling stake in Invitation Invest, the company that owns the agency.
Who will lead the management of the acquired company?
The company will be managed by Simion Alb, a highly regarded tourism promotion specialist and former head of the Romanian tourism office in New York.
What were the financial results for Invitation Invest in 2018?
In 2018, the company reported a turnover of 15.7 million RON and a very small loss of approximately 4,681 RON.