Romanian PM Wants IAR Ghimbav’s Lands Removed From Assets List

“I spoke to Athanasiu (president of Romania’s privatization authority AVAS – e.n.) and told him that he should remove the lands, which increase the value of the plant, from the list of IAR Ghimbav’s assets. At the previous sale attempt, the amount offered did not even match the assets value. And I am not talking about the industrial assets. If the plant includes ten hectares (of land – e.n.), they increase its value artificially. Therefore, I have spoken to have the land removed, so that the privatization will strictly concern the industrial element. Because we are not into real estate business,” Tariceanu said.

Tariceanu said he held talks with officials of French-German consortium Eurocopter, who showed interest in acquiring IAR Ghimbav.

“The officials of Eurocopter said they do not wish to make a real estate deal, but to buy the production capability. And this is only fair, so that the privatization can be made at the market value,” he mentioned.

The Romanian authorities first put up for sale IAR Ghimbav in 2006. After several rounds of negotiations with Eurocopter, which submitted the sole offer at the time, the privatization process was suspended.

In April, the privatization authority said will resume the sale of a 64.89% stake in IAR Ghimbav in June.

Investors interested in buying the stake may file their bids by June 23.

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