According to the data of the State Register of Legal Entities, since June 7, 2020, following the divestiture of state assets, several successive changes have been made to the ownership structure of the company, including through the involvement of individuals and legal entities belonging to families included in the List of Persons and Entities Associated with the Subjects of International Sanctions – explains the above decision of the Public Property Agency (PPA).
Based on Article 4, paragraph (c) of Law No. 174/2021, the Council confirmed the decisions previously adopted by acts issued in July 2025 and January 2026, and subsequently rejected the transaction for the alienation of 100% of the shares of Gara Auto Nord Ltd. By final decision, the Council ordered the company to return to the control structure that existed prior to the transaction dated June 7, 2020.
Within 20 days from the date of notification (today), the company must return to the legal position that existed prior to this transaction. Thus, 85% of the shares must be returned to the state under the control of the Public Property Agency and 15% to Extremum LLC. In practice, the current owners of the shares must transfer the shares held in this structure.
The operational activities of Gara Auto Nord are not affected by this decision. Services shall be provided as usual and the assets managed by the company shall be maintained and transferred.
