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Romania
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Romania Asks at Least 10.43 Mln Lei (2.4 Mln Euro) for 70% of Tools Maker Scudas Pascani

Nov 23, 2009, 12:17:42 PMArticle by Kristina Belkina
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November 23 (SeeNews) - Romania launched on Monday an open bid tender to sell its 69.98% stake in tools maker Scudas Pascani, setting a starting price of 10.43 million lei ($3.6 million/2.4 million euro).

Romania Asks at Least 10.43 Mln Lei (2.4 Mln Euro) for 70% of Tools Maker Scudas Pascani

The call price was set at 22 lei per share, the Romanian government's asset-selling agency, AVAS, said in a statement.

It added that a previous attempt to sell the stake on November 17 failed as it attracted no interest.

Scudas Pascani has a share capital of 6.0 million lei. The company was sold in 2000 to the Romanian company UNIF A.T but it returned to state hands in 2007.

(1 euro = 4.2824 Romanian lei)

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