EC okays privatisation of Antibiotice

EC okays privatisation of Antibiotice

The European Commission agrees with the privatisation of Antibiotice Iasi drugs maker by an open cry auction, a method selected by the State Assets Realisation Authority (AVAS), AVAS informs in a press release. In a letter to the Romanian Government dated February 20, 2008, the European Commission informs Romania's courts of law that when there is a contradiction between internal norms and the European norms, the latter shall prevail.The national courts of law, the letter reads, should fully observe the Community norms in relation to state-granted aids, and such courts may refuse to apply the norms of the national legislation when they run contrary to the norms of the European law.AVAS says the European Commission is highlighting the need for a privatisation that will non involve state-granted aids, that will be unconditionally open to all bidders and give enough time to bidders to conduct their own audit and that will be won by the bidder offering the best price.(...)