AVAS intends to sell Asirom stake

The State Assets Resolution Authority (AVAS) intends to sell the stake it owns in the insurance company Asirom, but does not think its 6.3% interest in this company is very attractive for investors. “When it comes to selling, the percentage owned is important if it provides an opportunity to have your say in how the company is run,” say AVAS representatives. Asirom is listed on the RASDAQ market of the Bucharest Stock Exchange. According to market conditions, the price that AVAS can get for the stake it owns stands at over 8 million euros. “AVAS” strategy with regard to this stake is to sell it by choosing a method, under the law, which would provide as much transparency as possible, as well as genuinely equal opportunities to any potential investor. The privatisation method chosen will be made public according to the current legislation,” say representatives of the Authority, without also presenting a schedule of the sale. Until AVAS decides how it will sell the stake it owns in Asirom, the shareholders of the insurance company are called for an Extraordinary General Meeting on March 27 whose main topic of discussion is the approval for company shares to be withdrawn from trading. ZF