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26.07.2010 9:25
Romania will privatize 15% of Transelectrica, Transgaz and Romgaz
Newspaper, cited by Reuters, reports that bourse listing is preferred option

  • © Transelectrica

A Reuters publication announced that Romania plans to privatize 15% stakes in the energy utilities Transelectrica and Transgaz and in the gas producing company Romgaz in order to deal with budget problems. Reuters reminds that economy Minister Adriean Videanu had said in April that the state planned to sell part of those firms and a stake in top energy firm Petrom either via a local or foreign stock exchange or through open bidding by the end of 2010.

The government has said it intends to use privatisation money solely to fund infrastructure projects. Analysts at Wood & Co estimated the state could raise some 290-370 million euros from the sales. However, analysts doubt that Romania will sell the stakes by the end of the year and say an initial public offering for Romgaz would take at least eight months to prepare. Successive governments have repeatedly expressed the intention to sell further stakes in energy companies, but political bickering and poor market conditions have caused major delays, denting investor confidence that Romania was serious about selling assets, Reuters publication says.

TAGS: Romania | Transelectrica | Transgaz | Romgaz 

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