Romania’s Antibiotice Iasi Privatization To Be Resumed In Jul, Aug

The privatization of Romanian drug maker Antibiotice Iasi will be resumed in July or August, most likely through public outcry bid, after the Government asked privatization authority AVAS to recall the sale offer, government sources told MEDIAFAX.

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"Antibiotice will be relaunched for privatization, but first, AVAS needs to wait for the waters to clear, as AVAS will resume talks with investors," the quoted sources said.

According to them, the privatization method might remain public outcry bid, since it is the best option and it completely observes European Commission demands.

As for the Government decision to revoke the privatization offer, the sources mentioned that the normative act initiating the sale process was abrogated by the Executive because it did not have all the necessary approvals, which made it vulnerable to court suspension.

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