Seven Cos Interested In Helicopter Mker Sale-AVAS

AVAS extended last week for the second time the deadline to file bids for the sale of IAR Ghimbav, by September 15.

Last month, AVAS extended the deadline from June 23 to July 23, at the request of certain investors interested in the company’s privatization.

AVAS put up for sale 12.2 million shares, representing 64.89% of IAR Ghimbav share capital.

End-April, the privatization authority put up for sale its stake in IAR Ghimbav, establishing June 23 as the deadline to submit the offers.

The company reported 3.1 million lei (EUR1=RON 3.5666) losses in the first quarter of the year, versus a RON3.1 million net profit in the corresponding period a year earlier, on the backdrop of four-fold cut in turnover.

IAR Ghimbav is majority owned by AVAS, with a 64.89% stake, followed by Labor Ministry, with a 7.35% stake, and regional investment fund SIF Transilvania (SIF3.RO), with a 4.57% stake, while the rest is distributed among minor shareholders.