According to sources quoted by Mediafax, the former chairman and current director, member of Alcedo Group Board, Nicolae Sandulescu, as well as the current president, Vicentiu Cremeneanu, refused to confirm or deny the negotiations.

Nicolae Sandulescu stated that, at the moment, the Romanian agri-business goes through an effervescent period, marked by a series of significant transactions, which creates new opportunities for those who have the specialization and the necessary experience in the field.

Alcedo has a share of about 20 percent of the plant protection products market and over 10 percent of the certified seeds distribution market, being included in the top 3 fertilizer distributors. Moreover, Alcedo owns Alchimex, Romanian plant protection products manufacturer.

In 2011, the Japanese group Sumitomo took over 90 percent of Alcedo’s capital. Prior to the transaction, Alcedo Group was controlled by six individuals, each with shares of 10 to 19.5 percent. One of the shareholders, who owns 10 percent of the group, refused to sell. (source: business-review.eu)