Wednesday, July 16, 2008

Romania to sell aircraft maker to Czech firm

BUCHAREST, July 16 (Reuters) - Romania selected Czech firm AERO Vodochody to buy the state's majority stake in aircraft maker Avioane Craiova, privatisation agency AVAS said on Wednesday.

AVAS said in a statement the Czech investor offered 16.3 million euros ($26 million) for an 80.98 percent stake in Romania's sole producer of military aircraft, of which 8.9 million euros represents planned five-year investment.

The other two bidders for Avioane Craiova were Italy's Alenia Aeronautica (SIFI.MI: Quote, Profile, Research) and local firm INAV.

Last year, AVAS failed to strike a deal to sell the company to a consortium of local private firms and said it would relaunch the sale.

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