Tata Motors submits offer for Daewoo Romania

Indian group Tata has submitted an offer for the takeover of Daewoo Automobile Romania, Romanian minister-delegate Iuliu Winkler said in a press conference in New Delhi on Monday. But he failed to specify the value of the offer, according to online website Autonews.ro.

The news comes as Ukrainian president Viktor Yushchenko said in a press conference in Romania on Monday that his country was also interested in the privatization of the Craiova-based plant, which returned to state control after the Korean company Daewoo announced its withdrawal.

Tata, which controls Indian car maker Tata Motors, joins big names such as General Motors and Ford in showing interest to buy Daewoo Automobile Romania.

The Romanian government decided January 10, 2007 to establish a privatization commission to tackle the sale of the plant. The head of the commission is Finance minister Sebastian Vladescu.