The Romanian Authority for State Assets Recovery - AVAS has decided to relaunch the privatization process of the Avioane Craiova factory in south Romania, a press release of the institution informs on Tuesday. The privatization will be preceded by an announcement or a selling offer, valid for at least 30 days.
The privatization was decided based upon the final offer of September 2006.
Considering that up to the initial deadline (February 28, 2007) no offer had been submitted, AVAS decided to delay the offers' availability up to May 11, 2007.
However, negotiations did not finish when the offer expired on July 10, so AVAS decided to restart the privatization process of the society.
Avioane Craiova has a social capital of 2.28 million Romanian RON and has as main activity airplanes and ships construction and maintenance. AVAS holds 80.94% of shares, the other 19.06% was retained by other shareholders.
HotNews.ro, Jul 17, 2007
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