Romania Re-Launches Sale Of IAR Ghimbav

Romania's privatisation agency, the Authority for State Assets Recovery (AVAS), re-launched the sale of IAR Ghimbav on April 21. AVAS has been trying to sell the helicopter maker since 2006. Last year, after five months of negotiations, a potential deal with Eurocopter, a subsidiary of European Aeronautic, Defence & Space Co (EADS) fell apart. AVAS now plans to sell a 65% stake in the company, equivalent to 12,250,488 shares. Interested parties must submit final offers and a 5-year business plan by June 23.

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