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The Authority for State Assets Recovery (AVAS) will elaborate a new strategy for selling "Avioane Craiova", which includes asking for a state aid for the company, subject to the approval of the European Commission, according to a press release issued by AVAS last Friday.
"The new strategy is intended to find the best solution to succeed in selling the company at a reasonable price", the press release said.
AVAS came to this decision following the fact that on Friday the offer for the privatization of "Avioane Craiova" expired, without AVAS and "Alenia Aeronautica", (the only bidder) successfully concluding a transaction.
In October, AVAS put up for sale a 80.9778% stake in "Avioane Craiova".
AVAS restarted the privatization of "Avioane Craiova" after negotiations with Czech company "Aero Vodochody" failed, with the latter offering EUR 16,32 million in exchange for "Avioane Craiova".
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