CSFB and RAEF to sell natural gases

A syndicate comprised of investment bank Credit Suisse First Boston (CSFB) and investment fund Romanian American Enterprise Fund (RAEF) will provide consulting services for the privatisation of the natural gas distribution companies Distrigaz Sud and Distrigaz Nord, Catalin Mocuta, RAEF’s official in charge of the project was quoted as saying by Mediafax. He added the agreement might be signed in a couple of weeks, with CSFB as syndicate leader and consulting contract signatory. The European Commission will officially disclose the name of the winner to provide consulting for the two Distrigaz-es some time this week, sources with the Industry and Resources Ministry say. Six candidates out of 18 were short-listed last year. The six were major financial groups: ABN Amro, Bank of America Securities Limited, BNP Paribas, Commerzbank AG, Credit Suisse First Boston International and HSBC Bank Plc. The European Union allotted approximately two million euros for the retainer of the consultant to assist the Industry and Resources Ministry in the privatisation process, as the latter is the owner of the Distrigaz Sud and Distrigaz Nord. ZF