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Romaero privatisation restarts

Who is going to bid? (110 words)

Published: 9/5/2000

The privatisation of Romaero is set to continue after the judgement by the London courts against Britten Norman (BN) which also allowed the Romanian property fund access to the $1.1m guarantee deposit. The courts froze the deposit in August of last year after BN endeavoured to stop the Romanians taking the deposit following a protracted dispute over the basis of the deal. It is unclear who is going to enter the bidding process as the original bidder, Romanian Grivco, has subsequently withdrawn as has Israeli Elbit. No doubt the restart may bring the contenders back to the negotiating table.

Article ID: 2057

 

 

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