Romania's government gave companies interested in buying 72.4% of a former Daewoo Motor Co. car factory until April 25 to send letters indicating they intend to bid.
Companies that plan to bid must send the government a short presentation about themselves and what they plan to do with the plant, which the state bought last year with the intention of reselling it, the Bucharest-based state asset sales agency, or AVAS, said in an e-mailed statement today. General Motors Corp. and Ford Motor Co. are among companies that have said they are interested in the factory, now known as Automobile Craiova SA after the southern city where it's located. UkrAvto, Ukraine's largest manufacturer and distributor of cars, also said last month that it will bid for the factory.
Romania's government in August bought Seoul-based Daewoo Motor Co.'s 51% stake in the auto plant for $60 million and said it plans to resell the factory sometime this year. Daewoo's Romanian division wasn't included in assets that Detroit-based General Motors bought when it took over the remains of the South Korean in April 2002. (Bloomberg)