Mahindra&Mahindra said on Monday that the Indian group retains ints interest in the Romanian factory Tractorul but insist on the annulment of a USD 180 million debt for their participation in the renewed privatization process involving the company, according to M&M press release, quoted by Reuters.

Their position comes as the Romanian authorities decided last week to drop the negotiations with Mahindra&Mahindra as a deadline for a deal on the privatization contract expired without an agreement on the privatization contract.

Representatives of the Indian company insist they have yet to receive enough guarantees that a series of facilities provided by the Romanian privatization authority, AVAS, will be approved by the Competition Council in Bucharest.