Electrica awaits bids from billionaires

Electrica is expecting letters of intent for the privatisation of the branch that supplies electricity to Bucharest and Giurgiu and Ilfov counties, Electrica Muntenia Sud, until September 15t. One of the conditions candidates must meet is to have made more than one billion euros in annual revenues, for each of the last three fiscal years. According to the privatisation announcement published by the Economy and Trade Ministry, requirements for investors” pre-qualification include relevant technical and managerial expertise. At the same time, the number of serviced consumers must at least equal that of Electrica Muntenia Sud. Electrica will assess received letters and draw up a list with pre-qualified investors, and the outcome of this analysis will be revealed to the parties involved by October 3rd. The authorities will sell 67.5% in the distribution company, through a method similar to the one used in the case of previous privatisations. ZF