One Bidder for Terom - Iasi Assets

F.A.
Ziarul BURSA #English Section / 5 septembrie 2007

Only one bidder submitted the documents to pre-qualify for the auction organized by the liquidator of Terom SA - Iasi to sell the remaining assets of Terom SA - Iasi. "International Import Export SRL expressed intent in participating in the auction for assets 32.1 (land, buildings and equipment for a starting price of 3,959,849 RON) and 32.2 (Distillation Unit II for a starting price of 1,248,597 RON). If they remain the only bidder and offer at least the minimum price, they win," according to Marioara Apetri, Coordinating Associate with Casa de Insolventa Moldova SPRL - Iasi, the liquidator of Terom SA - Iasi.

This is the second attempt to sell the assets of the former spinning mill following the annulment of an auction held in mid-August because of some inconsistencies between the tender book and the Land Registry records. The starting price is some 69 million RON. Nonetheless, Terom owes some 70 million RON. The list of items to be auctioned off includes both a set of 34 assets forming a production unit and a number of stand-alone assets, stocks, land, equipment and buildings.

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