English
The next auction to sell the assets of Rulmentul SA will take place on 2 October, according to liquidators Casa de Insolventa Transilvania and RVA Insolvency SPRL - Bucharest. The starting price is 40.39 million EUR, VAT not included. The deadline for submitting the auction sign-up documentation is 1 October. The starting price is identical to that of the previous auctions, as per a decision of the creditors. However, this time the liquidators will organize a Dutch auction, reducing the price gradually until a sale is made. "The creditors authorized a new auction. This time it is a Dutch auction, so the price will be reduced successively until a confidential minimum," said Vasile Godanca, a liquidator with Casa de Insolventa Transilvania. Rulmentul is controlled by the State through the State Asset Recovery Authority (AVAS) with 50.89%. A preliminary estimation of the company"s debts points to 245.63 million RON.
Dutch Auction At Rulmentul On 2 October
F.A.
English Section / 19 septembrie 2008
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