AVAS To Sell Companies Free Of Post Privatization Strings Attched

The Authority in charge with selling State properties şor AVASţ may choose to seal further deals while giving up on its requirement for certain conditions to be met after the privatization, acting on a recommendation from the European Union.

Hence, the main criterion in the future to seal a deal would be the best price offered, said Mircea Ursache, president for AVAS.

So far AVAS is monitoring 3,787 privatization contracts concerning the buy of 3,317 companies.

AVAS still has on its portfolio 412 companies, with an aggregate turnover of some 3.23 billon lei ş0.8 billion Euroţ.

AVAS and the Ministry for the Economy are jointly proposing amendments to the law currently debated in the Parliament, on the state subsidies. The two government bodies plan to give financial support to the companies still in the AVAS portfolio. If companies do not return the financial help they receive within six months, then AVAS and the Ministry for the Economy, may restructure of file for the bankruptcy of these companies.