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Antibiotice Iasi buyer to be announced by end of year

Marţi, 24 octombrie 2006, 0:00

The final announcement on the privatization of the Iasi-based drug maker Antibiotice will be made in early November and the last two tender participants are expected to submit their financial offers before the end of December 2006, the Authority for State Assets Recovery-AVAS announced on Tuesday.

The clauses of the privatization contract will be further negotiated starting January 2007. According to official data, AVAS head Razvan orajanu has rejected a request by Antibiotice employees to buy a 10% stake in the company in preferential terms.

He said such a move would have reduced the majority stake held by the state to well below the current 53.02%, which would have meant reduced interest from potential investors.

Antibiotice Iasi is the last state-controlled pharmaceutical company in Romania. The company has full priority in AVAS’ privatization plan for 2006. It is listed at the Bucharest stock exchange.

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