The farms and factories of Avicola Crevedia, part of Agroli group, have been put up for sale, together with the company’s headquarters via a Dutch public tender, reports local Profit.ro. The starting price is over EUR 21.5 million, without VAT.

The company, which used to be one of the biggest poultry producers in Romania, went bankrupt at the end of last year, after the group’s owner, the Frenchman of Lebanese origin Rami Ghaziri, had been indicted by DNA prosecutors on charges of tax evasion amounting to RON 107 million (EUR 23.5 million). Ghaziri was also referred to by the local media as the “chicken king”.

Avicola Crevedia went into insolvency in January 2014. However, the reorganization plan failed and the judges decided the company should be dissolved last fall.

A Dutch auction is a type of auction in which the auctioneer begins with a high asking price, which can later go gown.

Founded in 1959, Avicola Crevedia owned the first poultry farms in Romania and became the largest such firm in Eastern Europe in time, according termene.ro. In mid-2000s, the Avicola farms were taken over by Rami Ghaziri, via Agroli Group. In 2013 and 2014, the company recorded total losses of RON 186.4 million (EUR 42 million).

editor@romania-insider.com