Different owners for Distrigaz Nord and Sud

Distrigaz Nord and Distrigaz Sud, which make up the state monopoly over the natural gas distribution, will eventually have different owners, the privatisation announcement run in the central press at the end of last week shows. The investors may submit expressions of interest for one of the two or for both companies until January 14, 2004, but will only be allowed to buy stakes in only one of them. The Economy and Trade Ministry, which holds 100% in each of the two entities, is selling 30% directly to investors or a consortium of investors that will then participate in a capital increase to up its stake to 51%. The privatisation of the gas distribution, a several hundred million-euro deal, according to certain officials’ estimates, has prompted the interest of Germany’s Wintershall and Ruhrgas, of Gazprom (Russia), Enel Gas (Italy) or Gaz de France (France). The requirements the investors have to meet are the same as in Petrom privatisation’s case. ZF