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Stake price, 95 pct of end score in Avioane Craiova's privatization

The documentation for the sale of aircraft maker Avioane Craiova was completed to adjust to the relevant European regulations and remove state aid suspicions, reads a release of the State Assets Realization Authority (AVAS).

In the assessment of the bids filed by investors, the stake price will represent 95 pct of the end score, development investments - three pct and working capital - two pct. According to AVAS, 17 companies have so far voiced interest in the privatisation of Avioane Craiova, including SAAB, Grampet Romania, the Czech Aero Vodochy, Italy's Alenia, Belgium's Sabca, Financial Investments Society SIF Oltenia and the Luxembourg-based International Railways Systems.AVAS put off the bids submission deadline from April 17 to May 9.A stake of 80.97 pct is put up for sale; the face value of a share is 2.5 lei. (1 euro trades for 3.56 lei). The privatisation deal will be struck following negotiations based on final, improved and irrevocable bids. Avioane Craiova SA (ACV) was established in 1972 and specialises in aircraft and ship manufacturing and repair. ACV is the sole military aircraft producer in the Romanian industry of aeronautics; the company produces NATO-compliant training aircraft IAR 99 SOIM, that equips the Romanian Armed Forces. Sursa: http://www.actmedia.ro

Tags: stake avioane euro sif

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