Stiri	Stiri afaceri	Stiri companii	Evenimente de afaceri

Twelve companies voice interest in taking over IAR Ghimbav

As many as 12 companies initially voiced interest in taking over the Romanian IAR Ghimbav aircraft manufacturer, but their number fell considerably as Prime Minister Calin Popescu-Tariceanu announced he intends to take off the land owned by IAR from the privatisation offer. So far, only two companies bought the task-book for the auction - French Eurocopter SAS and Czech Aero Vodochody.

Tariceanu said the price for the Ghimbav-based factory is artificially increased by the price of the land it owns, and for a quick privatisation the land has to be taken out from the offer. 'Eurocopter told me they do not intend to do a property business, but to acquire the production facilities of IAR. This is the fair way to see the issue. The company could be turned private at its market value. The market value is given by the business turnover and profit. As the two indicators are not that large, the value of the assets comes to play. Yet, if the value of the assets is artificially heightened, Eurocopter will not be interested in buying the company,' Tariceanu explained. National daily Bursa quotes Government sources as allegedly saying turning IAR Ghimbav private with the French-German Eurocopter concern is made conditional upon the new entity taking an order of 30 million euros for helicopters to equip the Romanian Ministry of Home Affairs and Administrative Reform. IAR Ghimbav is planned to turn private by privatisation on final, improved and irretrievable bids, and the European Commission has already approved the sale methods. Potential bidders have until June 23 to submit their final bids. IAR Ghimbav was first put up for sale at end-2006, but only Eurocopter filed a bid and negotiations failed in October 2007 after more prolongation of the privatisation deadline. IAR Ghimbav specialises in aircraft manufacturing and repairing. It is the only manufacturer in Romania of helicopters and light aircraft. The State Assets Realisation Authority (AVAS) is holding a 64.98-percent stake in IAR. Other shareholders are the Romanian Ministry of Labour and Social Solidarity (7.35 percent following a debt conversion), SIF Transilvania financial investment company (4.57 percent), other individual shareholders (17.25 percent) and corporate shareholders (5.98 percent). Sursa: http://www.rompress.ro

Tags: ghimbav percent companies taking sif

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