Romania Simplifies Procedures To Sell Its Minority Participations

04.27.2011 By Ioana Tudor

The Romanian Government will simplify procedures to sell its minority stakes in companies, which will have to provide data needed to determine offer prices.

The Romanian Government will simplify procedures to sell its minority stakes in companies, which will have to provide data needed to determine offer prices.

The Government will set a deadline by which the respective companies must present the required information. If they fail to meet the deadline or refuse to provide data, the Executive will calculate offer prices based on its own estimations.

The measures are included in the Government's National Reform Program for 2011-2013, obtained by MEDIAFAX.

The Government said during negotiations with the International Monetary Fund that privatization authority AVAS would sell the 18 small companies in its portfolio and the minority stakes held in at least 150 companies.

The Government also said it would resume the privatization program, especially in the energy, transport, tourism and agriculture sectors, adding the Economy Ministry would also start procedures to sell its minority stakes in the companies it controls.