EnglishMoldova SPRL - Iasi, the liquidator of Terom - Iasi, has scheduled another auction to sell the assets of the former synthetic fiber mill, this being the third such attempt. The first tender, scheduled for mid-August, was cancelled following the identification of inconsistencies in the Land Registry between the surface stated in the tender book and the actual surface. The tender was organized again early this month, but only one bidder attended and offered less than the starting price.
The auction has been rescheduled, whereas the starting price has been lowered by 20%, as per the law. The auction mainly concerns a package of 23 assets of the factory, including a plot of land of 9.5 hectares. The starting price of the package is 46,078,400.80 RON, not including VAT. The second part of the auction will consist of the sale, item by item, of a number of stand-alone assets evaluated at a global starting price of 9,105,117.6 RON, VAT not included.
Following the termination of the privatization contract between the State Assets Recovery Authority (AVAS) and the Syrian national Hassan Nanna, the administrators appointed by AVAS decided to sell the main three departments of the factory. Later on, the decision was made to initiate liquidation. Moldova SPRL was tasked to handle the process and, following an assessment, set the starting price at some 69 million RON.
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