Tuesday, January 22, 2008

PwC, Darian Rom Suisse bid for evaluation of Property Fund.

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PwC, Darian Rom Suisse bid for evaluation of Property Fund. PricewaterhouseCoopers and Drian Rom Suisse compete for being appointed as the evaluator of Property Fund’s market value, local media reports. The two have submitted their bids and the evaluator will be selected within three days. Darian Rom Suisse has evaluated large companies and properties for the state assets agency AVAS, such as drug maker Antibiotice, former Daewoo car plant in Craiova and the French Village residential project in Bucharest . Selecting the evaluator for the Fund is a first step toward the floating its shares on the exchange. The evaluation process should take no more than four months. This is an ambitious deadline given the Fund’s estimates assets of EUR 4bn and the large number of participations (some 140) in different firms. Former interim manager of the property Fund, Alexandru Paunescu said that the fund manager would be selected by February-March this year. This seems equally ambitious as long as the procedures have not been initiated yet.

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PwC, Darian Rom Suisse bid for evaluation of Property Fund.

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