Romanian AVAS Rejects Sweden’s Saab Bid In Avioane Craiova

Romanian Privatization Authority, or AVAS, rejected Sweden’s Saab Aerosystems multi-stage bid in local airplane maker Avioane Craiova, Saab marketing director Richard Smith said Tuesday.

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"We proposed a joint venture to develop the plant in Craiova, to subsequently take it over in several stages in order to study and fairly assess the business risks and the long-term return of investment," Smith said.

Saab is the manufacturer of Gripen multiroll fighter and competes in the bid on the Romanian Defense Ministry’s renewal of the local military aircraft fleet.

AVAS, the majority stockholder in Avioane Craiova, postponed the deadline to submit the buying bids from April 17 to May 9.

The authority aims to sell an 80.9% in the plant, through final bid negotiation.

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