Cyprus' Framecell sells 6.5% stake in Romania's NQE Holdings

Cyprus-based Framecell said on Friday it has sold a 6.512% stake in Romanian renewable energy investment group Natura Quattuor Energia (NQE) Holdings [BSE:SCPS].

Framecell sold 1.9 million shares to businessman Nteventzis Stavros, reducing the number of NQE stocks it owns to 6.0 million, the company and Stavros said in two separate statements filed with the Bucharest Stock Exchange, without providing details on the value of the deal.

Following the transaction, Framecell holds 20.66% of NQE Holdings.

At end-June, Cyprus-based company Coronedo Limited was the main shareholder of NQE Holdings, with a stake of 38.45% in the Romanian company, bourse data showed.

Natura Quattuor Energia Holdings focuses on the development of energy producing assets and the provision of related services. Its shares closed up 0.65% at 0.4630 lei ($0.1409/0.1043 euro) on July 17.

(1 euro= 4.4411 Romanian lei)

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