EnglishThe Authority For State Assets Recovery (AVAS) has decided to discontinue the post-privatization monitoring and to archive the documentation for several companies which were privatized. One of these companies is the milling and bakery company "Morărit Panificaţie Băneasa Bucureşti".
Overseas Distribution Bucharest acquired a 40% stake in Morărit Panificaţie Băneasa Bucureşti ((128,304 shares) from AVAS on June 6th 1996, for 1.5 million lei (400,000 lei for the shares and a 1.1 million lei investment in the company).
The buyer fully complied with the conditions of the privatization contract, which include preserving the company"s line of business, a restriction on selling stock in the company, keeping the 225 employees and the meeting of the company"s environmental obligations.
At the same time, AVAS has decided to discontinue post-privatization monitoring and to archive the afferent documentation for nine other companies, as the full obligations taken on through the privatization contracts were met. These include: Alimentara No. 55D Brăila - privatized in 1996, Comalim 75 Cuciu Oradea - (1997), Agromec Agriş - 1997, Banat Com Reşiţa - (2002), Metalcar Sibiu - (1999), The Dacia Cafeteria km 4 - 5 Constanţa - (privatized in 1996), Comalim 7/1 Malozsak Oradea - (1996), Caracal - Drăgăneşti Olt Caracal - two privatization contracts concluded in 2007, and Nova Horezu - privatized in 1998.
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