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Three to go in Electroputere Craiova takeover bid

Luni, 28 mai 2007, 0:00

Three companies were selected by Romania’s Agency for State Assets Recovery (AVAS) to continue negotiations for the takeover of the Electroputere Craiova plant, now put for privatization. The three companies are S.C. A5 Invest Caransebes, S.C. Grup Feroviar Roman and Al Arrab Contracting Company (Arabia Saudita).

Two offers - from Vienna International Holding Bucuresti and Peeker Atomic Energy System Colorado - were rejected.

S.C. A5 Invest Caransebes belongs to a consortium of companies controlled by Romanian businessman Stefan Vuza. It also bid in the privatization of Avioane Craiova, another key state-owned plant in Craiova, south Romania.

S.C. Grup Feroviar Roman is a private company operating rail transport and services.

And Al Arrab Contracting Company is an important construction companies in Saudi Arabia with branches across the whole Middle East.

Final, improved and irrevocable offers from the three bidders have to be submitted by June 5.

Electroputere SA Craiova was founded in September 1949 as an energy and railway transport equipment maker. It was divided in seven companies in 1990. The seven united back in the current Electroputere SA in 1994.

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