Electrica on investors' list

Five strategic investors have submitted expressions of interest for taking over the controlling share of Electrica Oltenia and Electrica Moldova, Economy and Trade Ministry representatives say.

The list of investors interested in two of the largest electrical power distribution companies on the Romanian market include Public Power Corporation (Greece), AES (US), CEZ (Czech Republic), Union Fenosa International (Spain) and E.On (Germany).

The State is directly selling a 24.6% stake to an investor or investor consortium, which will then participate in a capital increase to acquire the rest of up to 51% in each of the two Electrica branches.

The State’s consultant for this transaction is a consortium headed by Bank of America Securities, with the syndicate also involving the British law firm Allen & Overy.

The deadline for submitting expressions of interest expired on May 31, and those received will be analysed by the State and its consultant soon.

Electrica is the largest company on the Romanian market due to its turnover of around 2bn euros and operations as an eight-branch structure.
adrian.mirsanu@zf.ro