EIB acquires 75% of Romanian electronics retailer

Equest Investments Balkans (EIB) subsidiary Lynx Property has agreed to purchase a 75% stake in Romanian consumer electronics and retailer Domo Retail for an undisclosed sum. Domo's founding shareholders will at least initially retain a 25% stake.

Domo currently operates 113 retail shops located in major Romanian cities, with an average size of over 420 m². The company posted a pre-tax profit for 2006 of EUR 11.3 mln on sales of EUR 121 mln. Domo's consolidated gross assets as of December 31, 2006 were EUR 56.7 mln.

EIB is quoted on the AIM segment of the London stock exchange for smaller growth countries, as well as the Irish stock exchange, and focuses on investments in Southeast Europe. EIB said that it has holdings in a total of 12 companies in the region and had net assets of EUR 310.3 mln as of March 31, 2007. Its investment advisor is Equest Partners Limited, which is also the advisory and management firm for Equest Balkan Properties and other investment companies.