EnglishThe State Assets Recovery Autority (AVAS) has decided not to extend the validity of the offer to sell their package in Avioane Craiova SA, but to resume the privatization process. The decision came in the context that not bid was received.
AVAS published the official announcement regarding the sale of 80.93% in Avioane Craiova SA on September 14th, 2006. As no bid was submitted until the initial deadline of February 28th, 2007, AVAS extended the deadline to May 11th, 2007 and republished the announcement. One bid was received from a consortium comprising Aerofina SA - Bucharest, A5 Invest SRL - Caransebes, A2 Impex SRL - Ploiesti and UZUC SA - Ploiesti.
The bidder passed the prequalification, but constantly refused to improve their bid. Finally, after four extensions of 30 days each, the final deadline of July 10th, 2007 passed without any conclusion. The aircraft manufacturer has a share capital of 2,284,027.50 RON, of which AVAS holds 80.94%.
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