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Authority to inspect seizure of SFIN magazine by Press distributor

Joi, 4 mai 2006, 0:00

The Authority for State Assets Recovery (AVAS) announced its intention to examine whether the buyer of press distribution company Rodipet SA fulfilled contract obligations when refusing to distribute the weekly magazine Saptamana Financiara (SFIN) on grounds of personnel shortage.

The move comes as a reaction to the press reports regarding the refusal of the Awdi family, managers of Rodipet, to distribute the weekly as an incriminating article revealed the dubious business relationships of the Arab owners with Middle East terrorist organizations.

AVAS is to examine if the Magnar System Com Otopeni company, the buyer of Rodipet distribution network, met the condition of non-discriminatory treatment provisioned in the privatization contract. The violation of this clause triggers penalties of 60 percent of shares stock which amounts to approx 40,000 Euros, to be transferred to AVAS.

The contract obliges the buyer of Rodipet to ensure a non-discriminatory treatment in distribution of all publishing products.
Rodipet SA was privatized in 2003 when AVAS sold it to the current owner for approx. 65,000 Euros.

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