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Automobile Craiova ready for privatization

Vineri, 9 martie 2007, 0:00

The State Assets Authority (AVAS) published on Friday the sale announcement for 72.4% of the social capital at car producing company Automobile Craiova. The negotiation will take into account only final, improved and irrevocable offers. The deadline for submitting the offers is April 25, 2007.
The offers must include information on the former activity of the investor and a brief argument on why to invest in Craiova.
Automobile Craiova has a social capital of 39.78 million RON (some 12 million euros) and is the only shareholder with a right to vote at Daewoo Automobile Romania, producer of vehicles and parts.
The company is held 72.4% by AVAS, 22% by SIF Oltenia (a financial investments fund) and 5.5% by minor shareholders.

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