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. Last Updated: 07/27/2016

Soccer Club Privatized

A Romanian private trader has bought a majority stake in a local soccer club, the first such post-communist deal.

"Ana Electronic contributed 359 million lei (around $229,000) for a 51 percent stake in the Bucharest-based soccer club Rapid," company president George Copos said Thursday.

Ana Electronic has a thriving business as exclusive dealer for South Korean electronics giant Samsung. The company also runs confectionery shops and bakeries across the Balkan country.Its turnover amounted to more than 25 billion lei ($159 million) in 1993, Copos said. Similar figures for 1992 were unavailable.