“The new company will be listed on the stock exchange. AVAS is finding it difficult to convert the minority share packages into private property,” said Ursache, adding that founding this company would be very advantageous economically.
AVAS owns minority share packages worth some RON 120 million (€30 mln) of companies in its portfolio, according to the institution. Its portfolio includes 412 companies, with a total share capital of RON 3.23 billion. AVAS holds the majority packages of 36 firms and minority packages of 376 enterprises.
The institution plans to recover receivables worth RON 4,177 bln in court, most of which are banking receivables, and fiscal and commercial receivables of insolvent companies. AVAS is involved in 18,709 litigations.
