Vrancart S.A. (BVB:VNC) signed an agreement to acquire a 70% stake in Rom Paper on July 28, 2016. In 2017, Vrancart acquired 85% in Rom Paper the total consideration paid to acquire 70% stake through acquisition and 15% through call option was RON 23.8 million. Post the transaction, General Manager and founding shareholder of Rom Paper, Claudiu Puchin, will remain in his position. The acquisition is subject to shareholder and antitrust approvals. The antitrust body approve the transaction on December 29, 2016. On January 19, 2017, the Ordinary General Meeting of the Shareholders approved acquisition of ROM PAPER SRL. Vrancart S.A. (BVB:VNC) completed the acquisition of 70% stake in ROM PAPER SRL on January 19, 2017.