The Competition Council approved the acquisition by Transtest of 80% of Moldasig insurance company shares.
The Competition Council has examined the respective notification of Transtest, producer of breadcrumbs, cookies, sunflower seeds, peanuts, which announced its intention to acquire 80% of Moldasig insurance company. The Competition Council announced that the transaction fits the competitive environment. Transtest was incorporated in 2007 in Ceadir-Lunga. Its sales revenues in 2022 amounted to 339.9 million lei (+8.2%), while cost of sales amounted to 262.3 million lei (+9.4%). Net profit amounted to 56.01 million lei (+4.7%). The company employs more than 90 people. The founder of Transtest is Haralampie Meraji, who also owns a 51% stake in the Two Goose company (toy store) and an individual enterprise in Besghioz village. At the same time, the authorized capital of Moldasig amounts to 60 million lei. The company's net profit in the first half of 2023 amounted to 15.97 million lei, up by 19% compared to the same period of 2022 (13.42 million lei). Total assets at the end of June this year amounted to 621.18 million lei, net assets - 236.4 million lei, liquidity ratio - 3.00, solvency level - 181.92%. It should be noted that in July 2019, the National Financial Market Commssion (CNPF) imposed a temporary special administration on Moldasig. 80% of its shares were seized in the context of the "billion theft" investigation, and then it was decided to sell shares from the additional issue issued in place of the seized ones, which were not sold by their owners. Since the tenders for the sale of these shares were unsuccessful, 80% of the newly issued shares were transferred to the direct management of CNPF to fulfill all the rights and obligations of the shareholder. However, based on the requirements of the current legislation, their real beneficiary was then named the company's administrator - the company's Director General Victor Coada. In November, 80% of the newly issued shares of Moldasig insurance company were repeatedly offered for sale through the regulated market of the Stock Exchange of Moldova in a single package (480 thousand shares of the I class) at the initial price of 358,1 lei per share (total 171.8 million lei). Accordingly, Transtest will become the owner of this block of shares. Another 10.2% of Moldasig shares are owned by Banca de Economii, 5% by Railways of Moldova (CFM) and 4.8% by Posta Moldovei. At the same time, Molasig is the main shareholder (99.9%) of Asito Kapital (Bucharest, Romania), the company also owns 100% of Real Grup Imobil and 54% of Style Design Comapany (both registered in Chisinau). //25.03.2024 - InfoMarket.
