CEC to appoint privatisation advisor

The privatisation of Casa de Economii si Consemnatiuni (Savings Bank – CEC) will kick off in the next few days, when the search for the privatisation advisor is expected to begin. The post is likely to be advertised in the national and international press this week, according to banking sources. The advert still needs to be endorsed by the World Bank. In line with CEC’s privatisation schedule, the consultant must be selected by September 2004. Premier Adrian Nastase yesterday said that both CEC and BCR (Romanian Commercial Bank) would be privatised next year. ZF