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Over 50 companies, interested in Antibiotice Iasi privatization

The Authority for the Privatization of State's Assets (AVAS) has received 53 letters of intent from the investors interested in the takeover of 53.01% in pharmaceutical maker Antibiotice Iasi, reads a release for Rompres.

'The big number of letters of intent and the messages we receive daily from our ambassadors show us the investors are interested in Antibiotice. AVAS is determined to unfold the privatization in a transparent manner by observing the best international practices, and I am convinced the result will be very good', said AVAS president, Teodor Atanasiu. The privatization of Antibiotice has entered the last stretch after the publication of the privatization call on 24 December 2007. AVAS has put up for sale the 53.0173% stake held by the state in Antibiotice, for a starting price of 2 lei /share, (some 130 million euros) in the open-cry auction. The price is set following a complex evaluation drawn up by an international consultant, AT Kearney GmbH. For participating in the auction, the potential buyers have to submit at the AVAS head office the participation documents established through the presentation file no later than one working day before the date set for the auction. The auction will be held on 18 March 2008, 12:00 am, at the AVAS head office. Antibiotice is one of the most profitable companies with majority state capital in Romania, with a net profit of some 24 million lei in 2006. Sursa: http://www.rompress.ro

Tags: privatization antibiotice interested

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