Moldova: investors ignore sale of Tirsteklo

The attempted sale of glass packaging producer Tirsteklo by Moldova“s breakaway region of Transdniestria has failed to attract investors. “No bids were received in the tender,” the Transdniestrian Ec…

The attempted sale of glass packaging producer Tirsteklo by Moldova“s breakaway region of Transdniestria has failed to attract investors. “No bids were received in the tender,” the Transdniestrian Economic Ministry said in a statement on 4 April 2006. The deadline for the placing of bids expired on 3 April. Transdniestria asked USD 1.1 million (EUR 906,200) for the company and a further USD 1.74 million in investments by 2011. Tirsteklo has an outstanding debt of USD 402,600. Transdniestria aims to earn USD 106.2 million from privatisation deals in 2005 and 2006, despite numerous warnings from the Moldovan government that the sales are illegal. Transdniestria is located on the left bank of the Dniestr river in eastern Moldova. It broke away from Moldova in 1990 as its largely Slavic, pro-Russian population feared that the country“s Romanian-speaking majority would unite the country with neighbouring Romania.