Practic to pay up to 1m euros for Ciprom

The shareholders of Practic Bucharest will debate approval of the acquisition of a 51.07% stake in Ciprom Ploiesti for up to 1 million euros on December 17. According to the State Assets Resolution Authority (AVAS), Elpreco Craiova, Eddan Comimpex Turda, Practic, Grampet and Spet Shipping, the last three of which based in Bucharest, submitted bids for the controlling interests in Ciprom by the deadline set for November 24. Ciprom was put up for privatisation by negotiation based on final improved and irrevocable bids on October 23. Ciprom’s business partly revolves around constructions. Its share capital stands at 55.9bn ROL, with AVAS owning 51.071% and the rest is held by SIF Muntenia – 4.5% and other shareholders 44.432%. ZF