Entrepreneurs to sell non-core business to secure financingPublish date: 22-10-2008
Romanian entrepreneurs seem to be realizing that their situation is not very bright and that they must exit some business, although until recently they were unwilling to sell anything, according to Raiffeisen Investment Romania Managing Director, Ioana Filipescu.
Investment bankers say many local entrepreneurs will try to sell part of their non-core business or even portions of their core business to secure liquidity to finance their business, as lending is increasingly more expensive and harder to obtain.
"There will be increasingly more low value transactions," Capital Partners founder and Main Partner, Doru Lionachescu, said.
One of the local entrepreneurs who admits he is considering the sale of parts of his business is Dan Ostahie, founder of the Altex group of companies. Altex is market leader on the household appliance retail market.
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