Romania To Float Minority Stock In Energy Companies

04.07.2011 By Andrei Circhelan

Romania’s Economy Ministry will float energy company stock on the bourse, retaining majority, and will employ private management, since strategic investor privatizations are no longer an option, ministry official Alexandru Sandulescu told an energy seminar Thursday.

Romania's Economy Ministry will float energy company stock on the bourse, retaining majority, and will employ private management, since strategic investor privatizations are no longer an option, ministry official Alexandru Sandulescu told an energy seminar Thursday.

"At the ministry we believe privatization with strategic investors is no longer an option. Thus we plan to float minority stakes on the bourse, while keeping majority and employing private management," said Sandulescu, the ministry' energy department director.

He added the ministry is considering bringing in partners for association in power producers Rovinari and Craiova, in view of constructing several new energy groups.

In addition, the state wants to build a coal or gas powered energy producer, while hydropower producer Hidroelectrica might attract partners in several hydropower plant projects.