Privatization. AVAS gives a natural resource, the mineral waters, for 22.6% of the shares owned by SIF Oltenia at Automobile Craiova (AC SA), according to the patronages from the mineral waters industry.
These shares will be evntaly sold to Ford for about 12.5 lei per share, the price payed by Ford at the Automobile SA takeover. In the course of this week, AVAS will make a share trade with SIF Oltenia, which will pass the state participation at more societies, one of them being the National Society of Mineral Waters (SNAM), which owns the exploiting licences of the mineral waters springs and cashes in the name of the state the sums payed by the companies that bottle and commercialize mineral water.
SNAM recorded last year a bussines figure of 10 millions lei, while the profit was of 10 millions lei, according to the general director, Iosif Nagy. The patronage of mineral waters APEMIN and the National Association of Mineral Waters sent yesterday a letter that disputes the share change between AVAS and SIF Oltenia towards other institutions, among which the government, presidency, the Ministry of Economy, AVAS and the Competition Council.
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