AVAS cashed in 386.45 million lei in the first three months of 2008.

The big difference results from the sell-off of carmaker Automobile Craiova in the first quarter of last year, not because some companies belonging to AVAS were transferred to the Economy Ministry, said the company's representatives.

AVAS offered for sale minority stakes worth 14.03 million lei at seven commercial companies in the first quarter, but only one was sold for 312,292 lei. It also offered for sale three majority stakes worth 45.40 million lei, but only two were sold, for 2.73 million lei and respectively 2.13 million lei.

The company put up for sale assets worth 1.4 million U.S. dollars in the first three months, but sold only a part of it and cashed in 391,852 dollars.