Cahul authorities to sell shares of local cheese factory

Chisinau, Dec. 13 / MOLDPRES /- Cahul district council intends to sell the shares of the local Cheese Factory for about 362 thousand euros. A draft decision in this regard is to be proposed for approval to district officials in Cahul at a meeting due on 16 December, the regional press has reported.

Thus, the Cahul district council will put up for sale the package of 362,247 registered ordinary shares, with a nominal value of 20 lei for each share of the same class with voting rights and a total value of 7244940 lei.

"At the same time, the Council will empower the head of Cahul district to sign the service contract with investment companies (brokers) in accordance with the Regulation on the sale of public property on the regulated market, approved by government decision", according to ziuadeazi.md.

Cahul Cheese Factory has not been operating for about six months, having registered debts to suppliers. In 2020, the Cahul District Council covered the factory's debts worth about 2,450,000 lei, and these contributions were to be converted into a contribution to the statutory capital.

The factory also remained without management, after the last director, Nicolae Olteanu, was appointed head of the Economic and Territorial Development Department of Cahul district. Those who want to buy the majority stake in Cahul Cheese Factory will also have to resolve the situation with the debts towards the suppliers and the factory staff.

Photo: ziuadeazi.md