The technical-economic criteria will take precedence over the financial ones, according to Alexandru Paunescu, President of the Surveillance Council of Fondul Proprietatea. "The evaluation will take place in two stages, with the value of assets covering 90 percent of the company's share capital to be set in the first stage," Paunescu told Business Standard.
The President of Fondul Proprietatea said he hopes that among the two winners of the auction, will be some of "The big four," all operating in . Eligible companies have to post a turnover of RON 1 million (€0.27 mln) in the past two years, to be registered with the Association of Evaluators in Romania (ANEVAR) and the Romanian National Securities Commission (CNVM).
The listing of the Fondul Proprietatea was postponed several times, including due to the lack of asset evaluation.
The fund was created to reimburse people whose properties and goods were confiscated by the communist regime, after World War II, and includes stocks owned by the state in several companies.
