AVAS: Investors want 60-70% of Antibiotice

The State Assets Resolution Authority (AVAS) has announced that prospective investors interested in acquiring the Iasi-based Antibiotice company want a 60-70% stake in it, while the institution only holds 53.027% of the shares. “In order to make the most of state-owned shares, the AVAS has initiated talks with the minority shareholders for the sale of a controlling stake as part of a joint offer,” the AVAS representatives said. The AVAS management has also announced it denies the request made by Antibiotice employees, who asked for the preferential sale of a 10% stake in the company. “The state-owned stake would have been reduced to less than 51%, which would have significantly dampened the interest of potential investors, who want a controlling stake,” have added AVAS representatives. The privatisation strategy proposed by the AVAS entails the publishing of the privatisation announcement at the beginning of November, after which companies interested will have a month to submit pre-qualification papers.