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Within the time limits and procedures for privatization of the insolvent AS "Latvian oil stakes in the auction shall be submitted to one applicant, the business portal "Nozare.lv" was informed of the Privatization Agency (PA). Information about the applicant lvg auctions will be given after the PA Board decision next week.
According to the "Latvian oil" privatization within one applicant in case the auction is not held, and the PA Board shall decide on the applicant's compliance with the terms of the privatization lvg auctions requirements, and its approval of the shareholding buyer. PA Board of the company's stakes in the privatization of applicants is to decide next week.
PA Commercial Service main project manager Daina Prūse told that the agency conducted extensive work to potential investors to learn about "Latvian lvg auctions oil Stakes privatization opportunities, as well as get acquainted with the privatization rules and other information about the object.
Information about the privatization of approving and applying the auction was published in several publications, the Riga City Council's website, PA web site was probably acquainted with the rules of privatization and the accompanying information. Were informed of fuel traders and industry associations organized a special presentation of the interested parties.
Proof of the end of the deadline for submission, be held that the interest of investors has been weak and the desire to privatize the shareholding is likely to be undermined" Latvian oil considerable amount of liabilities of creditors," explained Prūse.
As reported, in September this year, the Privatization Agency (PA) Board approved "Latvian oil" privatization provisions requiring the company to sell at auction, setting a starting price of one lat. The new owner will take over the company's obligations as at 31 December 2012 was 12,712,879 lats.
Previously willingness to privatize "Latvian oil" expressed "East West Transit", taking over its debt. Overall, the "East West Transit from Latvian oil hires 31 petrol stations and three oil base in Liepaja, Cesis and Rezekne. Today, commenting PA privatization lvg auctions conditions, the company's management stated that in the near future acquainted with the terms and then will announce its conclusion.
"Latvian oil" was declared insolvent in October 2000. The company's assets, including gas stations all Latvian regions, oil-based, etc., during the insolvency proceedings are hired SIA "East West Transit", which is also used in the trade mark "Latvian oil." The insolvent company itself fuels are not traded.
"Latvian oil" was put up for privatization in 1994 by order of the Cabinet. The PA 2000 Board decision lvg auctions was approved "Latvian oil" privatization rules. Although the company controlling the auction was announced on several occasions, however, the lack of interest it did not happen.
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