Blue Air owner wants to take over Iptana

Businessman Nelu Iordache, the owner of Blue Air airline and manager of Romstrade, wants to take over Iptana Bucharest, where he is a minority shareholder for 13.5 RON/share, which puts the infrastructure design company at almost 12 million RON (3.3 million euros). Iordache had his lawyer send letters to all the shareholders of Iptana offering 13.5 RON for each of their shares, according to a source close to the company. Iordache could not be reached by Mediafax for comment. According to the latest data available, the biggest shareholder of Iptana is its general manager, Cornel Martincu, who owns 12.92%. Iptana's share capital stands at 176,820 RON, divided over 884,100 shares with a par value of 0.2 RON each. The company is involved, among others, in infrastructure projects for the Constanta and Mangalia harbours, the Henri Coanda Airport, the Sibiu International Airport, the Comarnic-Brasov section of the Bucharest-Brasov highway and various hydropower and road transport works.