ROMANIA: Bilbor has been put up again for sale | Progresiv

The assets of Bilbor Mineral Water, part of the United Romanian Breweries Bereprod (URBB) group, have been put up for sale again, this time for 3.4 million euros, excluding VAT, according to an announcement published on Transylvania Insolvency House’s website (citr.ro).

Last September, the assets of the mineral water producer were put up for sale at a price of about 5 million euros (excluding VAT). The offer was unsuccessful, so the company was then offered for sale again, but for 4.1 million (excluding VAT), and now a new offer of 3.4 million euros was be launched.

CITR, Bilbor Mineral Water's legal administrator, puts on sale the entire mineral water producer's assets: land and buildings, special constructions, equipments, stocks and intangible identifiable and unidentifiable assets.

Bilbor Mineral Water was launched in 2010 following an investment of about 10 million euros and the factory was built in Harghita County, 12 kilometers from Borsec, but in February 2015 it went into insolvency. Bilbor Mineral Water registered a turnover of 7.37 million lei in 2014 and a loss of 3 million lei, according to the latest financial figures available at the Ministry of Finance.

The company is owned by URBB shareholders, who also own the Bilbor brand and the Tuborg, Carlsberg and Skol beer brands as well as Granini juices.