Infinity Capital Investments, formerly SIF Oltenia (SIF5), announced at the Bucharest Stock Exchange that on August 8, it signed a sale-purchase agreement for the 27.455% stake in Turism Lotus Felix for the amount of 9.04 million RON, which has now been fully collected.
Previously, on August 3, 2023, the company informed investors about the adjudication of the entire stake within a competitive open outcry Dutch auction. The buyer has not yet been announced.
As of Q1/2023, Turism Lotus Felix represented 0.56% of Infinity Capital Investments’ total assets and was valued at 12.5 million RON.
Infinity Capital Investments has a market capitalization of 857.5 million RON. SIF5 shares have recorded a 1.2% decrease since the beginning of the year, based on transactions worth 17.5 million RON, according to BVB data. The company reported a net loss of 7.3 million RON in Q1/2023, down from a net profit of 4.4 million RON in the same period of 2022.
Frequently Asked Questions
What was the final sale price of the Turism Lotus Felix stake?
The 27.455% stake was sold for 9.04 million RON, and the amount has been fully collected by Infinity Capital Investments.
How was the sale process conducted?
The transaction was finalized following a competitive open outcry Dutch auction, a process announced to investors earlier in August 2023.
How does the sale price compare to previous valuations?
The sale price of 9.04 million RON is lower than the Q1 2023 valuation, which estimated the stake’s value at 12.5 million RON.