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State begins Automobile Craiova privatization negotiations with Ford

Vineri, 13 iulie 2007, 0:00

The Privatization Committee organized for car producer Automobile Craiova (formerly owned by Daewoo) begun the negotiations with Ford Motor Company, after the technical offer of the US-based company was opened, a State Assets Agency (AVAS) release informed on Friday.

AVAS representatives declared for that John Fleming, Ford Europe CEO, will meet the committee’s representatives on Monday, ion order to present some of the technical offering’s details.

Negotiations with Ford should have begun on Monday, but the Privatization Committee demanded supplementary documents.

Sebastian Vladescu, head of the Committee, estimated this week that the transaction may be closed before September 1. Ford would take over in this deal some 72.4 of the stock at Craiova.

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