* According to some sources, DAC Air, owned by the Păunescu brothers, is foreclosing on the AVAS
The minority stakes that AVAS owns in "Mercur" Craiova (MRDO) and "Agrana România" (BETA) were yesterday auctioned off on the Bucharest Stock Exchange, through a special sale, intermediated by the brokers of "Oltenia Grup Invest", on behalf of the executors "Dobra, Coşoreanu & Dobra".
Contacted by BURSA, the representatives of the court appointed executors said that the sale of the stakes of AVAS is occurring because the institution is being foreclosed upon.
"These special sales are connected to a foreclosure case of AVAS. However, the information is confidential, I can not tell you what is happening in the file, but you can find it on the portal of the Romanian courts. What I can tell you is that we have resorted to this method of sale because it is required by law", said Aurelian Tudorache, advisor at "Dobra, Coşoreanu & Dobra".
"It is an optimal time for foreclosing on the AVAS, because in August the courts go on holiday and even if the Authority were to dispute the foreclosure, it would take a while for it to get its money back. Most likely, by the time the judges return from holiday and the state gets an answer, the two stakes will have long been sold, and the money will have been received", said sources from the market, who did not wish for their names to be disclosed.
Through the AVAS, the Romanian state holds 5.85 million shares in "Agrana România", (4.05%), and 31,773 shares in "Mercur" Craiova, (2.68%).
Sources close to the AVAS confirmed yesterday that the Authority is being foreclosed upon. The same sources said that it is DAC Air, a company owned by the Păunescu brothers, that is foreclosing on the Authority.
The two blocks of shares that were put up for sale yesterday, did not find any buyers, according to Mr. A
