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Several foreign investors withdraw from BVB

Julius Baer, the biggest institutional foreign investor present on the capital market in Romania, reduced by 50 million euros its investments in Romanian companies listed on the Bucharest Stock Exchange (BVB), Business Standard daily reads on Tuesday.

These withdrawals were the result of generalized corrections on the international capital markets determined by the mortgage credits' crisis in the United States of America. At the end of October 2007, Julius Baer fund placements on the Romanian market stood at some 270 million euros compared to 320 million euros at the end of July same year. East Capital investment funds control 63 million euros stakes in BVB listed companies, almost three-fold below the amount in September 2007, when 194 million euros were invested. At the end of December 2007, the highest East Capital-held stake was in Petrom (the largest oil company in Romania), with 177.7 million shares, their value amounting at the conclusion of the Monday trading session at some 18.2 million euros. Placements in Petrom account for 30 percent of the overall East Capital investments in Romania. The two funds East Capital - Eastern European Fund and East Capital Balkan control stakes in Petrom, Impact Developper&Contractor - real estate construction and development in Bucharest (Romania's Capital) and the six Financial Investment Companies (SIFs). At the end of December 2007, East Capital Balkan was in control of Impact shares in the value of 7.28 million euros, accounting for more than 5 percent of the company's capital and, through Eastern European Fund, a stake worth 10 million euros. Sursa: http://www.rompress.ro

Tags: capital euros million bvb

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