AVAS To Select Financial Consultant For Antibiotice Iasi Privatisation

F.A.
Ziarul BURSA #English Section / 14 martie 2007

The Authority for State Assets Recovery posted an announcement in order to select a financial consultant for the privatisation strategy of SC Antibiotice SA Iasi. The announcement was sent for publication in the Official Gazette - the Public Acquisitions category, but it has already been published in the Electronic System for Public Acquisitions SEAP and in the Official Journal of the European Union.

AVAS holds 53,0173% in the pharmaceutical company, while SIF Oltenia controls 10,0954% of the company"s share capital. According to a preliminary financial report, last year, Antibiotice Iasi obtained a gross profit of 30.159.307 RON, up 6,45 million RON compared to 2005. The company"s turnover reached 195.886.517 RON in 2006, compared to 163,497 million RON in 2005. For 2007, the company anticipates a 20% increase in turnover and expects a profit of 10 million EUR.

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