Umbrărescu își extinde imperiul

UMB Holding SRL, owned by Dorinel Umbrărescu, has submitted a bid to acquire the assets of the bankrupt RAAN. This move aligns with Umbrărescu's strategy to expand his industrial portfolio. The bid was confirmed by the Environmental Fund Administration, RAAN's largest creditor. Despite RAAN's financial troubles, interest from investors remains strong, with General Turbo SA also expressing interest in acquiring assets. The AFM holds significant claims against RAAN, totaling over 367 million lei. Recent creditor meetings have led to renewed auction attempts for RAAN's thermal power plant assets, although previous auctions have failed. RAAN has been in insolvency since 2013 and officially declared bankrupt in 2016 due to production issues.