Distrigaz-es follow Petrom's and Electrica's lead

The Romanian authorities see the two major natural gas distribution companies on the Romanian market privatised the Petrom style, which entails relinquishing control of the majority stake to strategic investors by the sale of shares and capital increase. The solution is seemingly accepted by the international entities, as well, official sources of the Economy and Trade Ministry say. The consultant hired by the State, the consortium comprising Credit Suisse First Boston investment bank and the Romanian-American Enterprise Fund (RAEF) is to finish the privatisation strategy and submit it to the ministry by the end of October, with the Government set to endorse it in the first half of November. Economy and Trade Ministry officials estimate the privatisation of the two natural gas distribution companies to be a several hundred million euro deal. ZF