AVAS ceases post-privatization monitoring of 9 companies

The Authority for State Asset Recovery (AVAS) has decided to cease post-privatization monitoring and indexing of documents afferent to post-privatization monitoring of share buy-sell agreement for nine companies.

Among these companies is S.C COMPRIL MURES S.A Targu Mures, Mures, that operates in the field of wholesale leather and footwear. AVAS sold in 2000 a 40.0001% stake in the company. The price of the stake worth a total 451,145,759 ROL was fully paid on April 10, 2000.

For S.C RECONS S.A Resita, Caras Severin county, AVAS decided to suspend post-privatization monitoring and indexing all documents related to post-privatization monitoring of the buy-sell agreement. The contract was concluded on August 2003 for the sale of 295,894 shares, representing 80.6264% of the company’s share capital.

Recons operates in the field of building construction. The price of the stake of 150,018,26 RON has been fully paid, and the transfer of the ownership rights over the shares has been made on August 19, 2003. The buyer of the company has made an investment worth €210,000 via the company, under the contractual provisions, on August 19, 2003-August 30, 2006.

The remaining seven companies for which the institution decided to cease post-privatization monitoring are S.C. AGROMEC DOBROIESTI S.A., Ilfov – two buy-sell agreements concluded in 1997 for two stakes representing 35% and 5% respectively of the company’s share capital; S.C. ARPOM S.A. Bucharest – in 1999 a privatization contract for the sale of 63.619% has been concluded; S.C. ALIMENTARA NO. 27B S.A. Braila, Braila – privatization contract concluded in 1996 for 40% interest; S.C. TIM TEROS S.A. Timisoara, Timisoara – for a 70% stake in the share capital of the company a privatization contract has been concluded in 1995; S.C. AGROMEC Curtea de Arges S.A., Arges – privatization contract concluded in 1997 for the sale of 40% stake; S.C. EDITURA ION CREANGA S.A. Bucharest – privatization contract concluded in 2003 for the sale of 35% of the share capital; S.C. ZDRAVKO S.A. Timisoara, Timis – privatization contract concluded in 1997 for 70% stake.

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