EnglishSources close to Euroconsult SPRL - Arad, the liquidator of the companies in the Nitramonia - Fagaras compound, the liquidation strategy has been finalized and submitted to the State Assets Recovery Authority (AVAS) for approval. According to the source, the strategy will be discussed next week.
The liquidator had initially announced that they would try to split the assets in two, namely Nitroexplosives and Nitrofertilizer, considering that AVAS had received privatization offers for the two entities resulting from the division of the chemical factory Nitramonia. The two offers came from the US-based Austin Powder and the Prahova-based businessman Ion Niculae. The latter offered 10 million EUR for Nitrofertilizer, but the transaction did not conclude, as some of the assets had been posted as collateral for some of the company"s debts to the state. Niculae complained that AVAS had advertised the assets as free of encumbrance, which was "a criminal case."
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