Antibiotice will again be available for privatization by open outcry auction

“We will put the company back on the market, and AVAS will propose a 99.99 percent privatization, again by open outcry auction,” according to a declaration for Business Standard by AVAS officials. This time the privatization will take place without any intervention on the part of the government, after the latter abrogated its privatization in its 27 February session, in Article 2 of Government Ordinance 1400/2007, which stipulated the privatization method. The article was contested legally by syndicates, and Iasi Court of Appeals decided for the plaintiff, through an executive decision. “No investor will come lay down his money for a company that has legal problems,” said quoted sources.

Antibiotice’s shares yesterday dropped 5.62 percent, ending the trading session at RON 1.68, with a stock exchange capitalization worth RON 764 million (€209.5 mln).