SNTR for sale again

The Privatisation Authority (APAPS) will put up for sale the stake it holds in Societatea Nationala Tutunul Romanesc (National Romanian Tobacco Company – SNTR) soon. The Authority on Monday made a preliminary announcement about plans to put SNTR up for sale along with two other companies: the design, urban development and engineering company Modern Proiect Tulcea and animal food producer Nutricora Corabia. The publication of the individual announcements for the three companies is the second stage of the advertising process and will be done soon, most likely by the end of November. The advertisements will specify how each of the three is supposed to be privatised. SNTR’s share capital reaches 871.3bn ROL. APAPS holds 56.4% in the company and the rest of the shares are held by the Interagro Group. Interagro became SNTR’s majority shareholder in late 2001, following a contract signed with the Agriculture Ministry by which it took over 52.5% in SNTR. A 47% stake in the company was transferred to APAPS from the Administration of the State’s Domains, an institution subordinated to the Ministry of Agriculture, Foods and Forests early this year. APAPS’ stake in SNTR later went up as a result of revaluation of some tracts of land. ZF