“The parties reached a final verbal agreement which we were and still are ready to execute in full,” Mike Curtis, partner of Bayfront, said in a press release.
The agreement includes terms that were requested by the government and accepted by Roman Copper, even though they were not initially included in the form of the contract presented in the privatization package, said Curtis.
“We were surprised that the negotiating committee refused to accept our written signature,” he added.
Roman Copper accepted all the terms and considers the contract to be in effect. The company expects the Romanian Government will rectify the misunderstanding over the status of the agreement, reads the press release.