Romanian Privatization Agency Cancels Mining Co Sale To Comply With EU Rules

The European Commission said some of the conditions the agency attached to the sale, such as maintaining the company’s activity for at least ten years and mandatory investments, could result in a lower sale price.

To avoid elements that qualify as state aid, the privatization agency must sell the state-owned stake in the company to the highest bidder in an unconditioned, open and transparent auction.

AVAS is to modify and update the mining company’s presentation file to comply with EU requirements.