Monday, March 26, 2007

Romania: Buyer to take over all debts of Electroputere

The President of the Authority for State Assets Recovery (AVAS), Teodor Atanasiu, declared that all debts of the (manufacturer of electrotechnical equipment for energetics and railway) Electroputere will be compulsory taken over by the potential buyer.
At the end of 2006, the debts of the railway provider reached approximately EUR 51m, of which 40m represented the debts to the state budget and suppliers and 11m to the banks.

In contrast, the total value of the assets reaches EUR 30-40m.

AVAS tenders for the sixth time the share package it holds at Electroputere Company, representing almost 62,8% in the social capital of the railway provider in Craiova city.\

Railway Market Magazine

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