(ADP) - Oct 1, 2008 - The Romanian privatisation agency AVAS rejected the bid of Czech aircraft maker Aero Vodochody for Romanian peer Avioane Craiova over demands made by the Czech company, Aero said in a press release on Tuesday.
AVAS said Aero's demands contradicted the country's legislation. The Czech company denied it had made any demands which were in contradiction with the law or the principles of democracy and free economy.
AVAS selected Aero Vodochody to buy over 80% in the Romanian company for EUR 16.3 million (USD 23m) in July. Aero Vodochody outbid Italian peer Alenia Aeronautica and Romanian INAV S.A. in the tender. The Czech aircraft maker planned to create a central European aerospace holding company, including Avioane Craiova.
In Romania, Aero is also interested in the tender for sector company IAR Ghimbav and believes that the result of the negotiations on Avioane Craiova will not have any impact on the outcome of the tender.
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