Transilvania Construcţii will have 95 pct of the shares in each company, with Andrei-Iancu Timofte holding 5 pct. Together with his father, Mircea Timofte, Andrei-Iancu Timofte owns 52 pct. of the shares of Transilvania Construcţii, and the company owns 42 pct. of its own shares.

The developer intends to get EUR 11 million loans from Compania CEC Bank, in order to refinance a series of investments loans initially took from Transilvania Bank. (Source: zf.ro)