AVAS receives letter of intent from French Chastagner for Fortus Iasi
The Romanian Authority for State Assets Recovery (AVAS) has received a letter of intent from French company Chastagner, which was interested in buying local Fortus SA, according to PDL MP Petru Movila. Fortus SA, a company based in Iasi,…
Romania Insider · Journalist
· Updated · 1 min read
The Romanian Authority for State Assets Recovery (AVAS) has received a letter of intent from French company Chastagner, which was interested in buying local Fortus SA, according to PDL MP Petru Movila. Fortus SA, a company based in Iasi, is owned by the state and this is the first such letter of intent received for the company since 2008. According to Movila, the French group would like to use Fortus as a platform for the energy sector, focusing on the wind energy segment. Fortus Iasi is a producer of heavy technological equipment. AVAS canceled the contract with Metaexportimport for Fortus Iasi in 2008 as the investor had not fulfilled its obligations in the 2003 privatization.
