SIMILAR ARTICLES

European Commission urges Government to “fully and immediately” reimburse car taxes

The European Commission asks Romania to urgently align the system of taxes collected on the car registration to the European one. The request is announced… Mai mult

“We are pulling ourselves out of maps!”: Business community’s solutions for infrastructure development

In the medium and long term, companies in Romania lose business because of disarticulated infrastructure; the country overall loses new investment, the state budget loses… Mai mult

New Romania’s Agent at the EU Court of Justice: 32 years old, failed exams, a person supported by Olguta Vasilescu

The government agent at the EU Court of Justice, Razvan Horatiu Radu, was replaced by the Government by a decision of Prime Minister Viorica Dancila… Mai mult

CCR President in a visit to Russia, despite that Ministry of Foreign Affairs has recommended not to make this visit

CCR President Valer Dorneanu is in Russia today, where he attends the Sankt Petersburg International Legal Forum, despite that MAE has recommended not to make… Mai mult

Official announcement: Green light for ArcelorMittal to sell Galati plant. Government’s levers for managing this situation

The European Commission has approved on Monday the acquisition of Italian company Ilva by ArcelorMittal. The decision is conditional on the disposal of several assets… Mai mult

State has initiated procedure for purchasing 51% of Daewoo’s shares at Mangalia Shipyard

de Mariana Bechir , 15.1.2018

The Government approved in the last meeting a memorandum stating that the state will use its preemption right at Mangalia Shipyard and buy the 51% stake owned by Daewoo.

The Government’s decision blocked the intention of Dutch Damen Shipyards Group, the majority shareholders of Damen Galati Shipyard, to take over the shipyard.

“We have to build some frigates and maybe we build them. Others could have built them. Let’s do the maintenance work ourselves as well. We can also build a little boat there. But it is not possible, with so much Danube and sea, for this country to have no shipyard,” Prime Minister explained on Wednesday evening in an interview with Antena 3.

Mihai Tudose says that he noticed another problem in the state’s structure when he initiated this takeover – there are no more specialists left, to know the procedures for such an action.

We have tried, and it seems we shall succeed. To buy back the 51% stake of Daewoo’s shares at the shipyard and said that could exercise the sale preemption right.

And we found with specialists Justice and Finance ministries that the Romanian state does not know how to do this. For one week, we struggled to see how the Romanian state can buy shares, to have a shipyard. I tell you, we take it. We shall have a state-owned shipyard,” Prime Minister Mihai Tudose told for Antena 3.

Dutch Damon business, which wanted the shipyard, is blocked

The Government’s decision blocks the intention of Dutch Damen Shipyards Group, the major shareholders of Damen Galati Shipyard, to take over the shipyard.

Negotiations between Damon and the South Koreans lasted for more than a year and were recently completed with an understanding for the Dutch to pay USD 26 million for the 51% stake in Daewoo Mangalia Heavy Industries, Monitorul de Galati daily writes.

The state will pay this amount if the preemption right is used.

The publication also mentions that it is the second time in the last period when the Dutch Damen group loses business opportunities because of the Romanian state. Ciolos government had initially decided that SN Damen Galati would build four multifunctional corvettes for EUR 1.6 billion, but after the elections, Grindeanu cabinet stopped the procedure, invoking that the rules in force on public procurement have not been met.

We remind two of the conditions imposed at the initiation of the procedure for the acquisition of multifunctional corvettes:

  • ships delivered to be built and equipped within a site in Romania
  • “Consolidation/development of a maintenance centre on the national territory, located at the Black Sea and/or on the maritime Danube, for carrying out the maintenance works on the ships owned by Romanian naval forces”.

In November, Damen Shipyards Group announced that it concluded a contract with Daewoo Shipbuilding & Marine Engineering (DSME), to acquire its majority stake in Daewoo Mangalia Heavy Industries (DMHI), according to a release posted on the Damen website.

Daewoo Shipyard in Mangalia was established in 1997 as a joint venture between Daewoo and Mangalia 2 Mai Shipyard. It covers an area of 980,000 square meters, has three dryers with a total length of 982 meters and a fastening space of 1.6 kilometres.

Mergeți în homepage ›

Publicat la data de 15.1.2018

Lăsați un comentariu


NEWS

"We are pulling ourselves out of maps!": Business community’s solutions for infrastructure development

In the medium and long term, companies in Romania lose business because of disarticulated infrastructure; the country overall loses new investment, the state budget loses… Mai mult

New Romania’s Agent at the EU Court of Justice: 32 years old, failed exams, a person supported by Olguta Vasilescu

The government agent at the EU Court of Justice, Razvan Horatiu Radu, was replaced by the Government by a decision of Prime Minister Viorica Dancila… Mai mult

European Commission urges Government to "fully and immediately" reimburse car taxes

The European Commission asks Romania to urgently align the system of taxes collected on the car registration to the European one. The request is announced… Mai mult

CCR President in a visit to Russia, despite that Ministry of Foreign Affairs has recommended not to make this visit

CCR President Valer Dorneanu is in Russia today, where he attends the Sankt Petersburg International Legal Forum, despite that MAE has recommended not to make… Mai mult

List of black payments / Corruption in health sectors: Bribes - 25% of contract value, higher than in other fields

Romania is the European country with the lowest spending in the health sector. However, DNA statistics show that the bribe in this field is higher… Mai mult

Finance Ministry analyses tax codes, article by article, to amend them again

The Tax Code and Fiscal Procedure Code will be amended by the end of this year with a "fair and logical" approach without "populist" initiatives,… Mai mult

Klaus Iohannis - fined by Anti-Discrimination Council with 2,000 RON for using word "offenders"

President Klaus Iohannis was fined with 2,000 RON by the National Council for Combating Discrimination. CNCD President Csaba Astalosz says though he disagrees with the… Mai mult

Multinationals in Romania: home countries and preferred domains

Romanian businesses control only 6.8% of the 78,181 groups of companies in Romania. There have been 78,181 groups of enterprises identified, out of which 5,311… Mai mult

London Stock Exchange opens a Service Centre in Bucharest with 200 employees

The London Stock Exchange Group (LSEG), the operator of London Stock Exchange, announced that it will open a business services centre in Bucharest through the… Mai mult

NATO largest exercise in Black Sea in 2018: More than 2,300 troops from seven countries participate in Sea Shield 18

21 military ships, 10 combat aircraft, and a submarine participate between May 4-11 in Sea Shield 18, the largest NATO exercise organised on the southern… Mai mult

"Emergency constitutional support": President Iohannis sends laws on judiciary to Venice Commission and asks Constitutional Court to wait for the answer

President Klaus Iohannis announced on Wednesday that he is referring to the Constitutional Court of Romania the Parliament's amendments to the three laws on the… Mai mult

IMF revised upwards Romanian economic growth in 2018, from 4.4% to 5.1%

The International Monetary Fund (IMF) has revised upwards the Romanian economy growth forecast for this year, from 4.4% to 5.1%, according to the latest World… Mai mult

Company insolvency, set on an upward trend in 2018, caused losses of RON 9.6 billion in 2017: ONRC statistics

The number of companies and authorized natural persons (PFA) which have declared insolvency increased by 19.31% in the first quarter of 2018 compared to the… Mai mult

Prime Minister Netanyahu's personal doctor, appointed as honorary adviser of Viorica Dancila

Herman Berkovits received in May 2014 the Key to the City from Mayor Sorin Oprescu Herman Berkovits, the personal doctor of Israeli Prime Minister Benjamin… Mai mult

Deloitte study: Romania vs. EU - Tax rules applied to losses from selling bad loans

Deloitte Romania, at the request of the Romanian Banking Association, conducted a study for analysing the tax treatment of the sale of receivables and the… Mai mult