EnBW prepares bid for Muntenia Sud

EnBW, the third leading energy company in Germany, is preparing its final bid for the acquisition of a majority stake in Electrica Muntenia Sud, until December 23. Muntenia Sud is considered the most valuable electricity distributor in Romania. According to the EnBW officials, some of the other bidders requested that the authorities extend the deadline for submitting the positioning document, a date set for November 18, and also asked for the deadline for the submission of the final bids to be extended. “The schedule set is too tight, yet feasible. Some of the competitors are trying to rewrite the rules, by requesting extensions of the time frames,” the group”s strategy director Amir Ghoreishi, stated on Tuesday, expressing hope that all participants would comply with the deadlines set. Ghoreishi did not care to specify which contenders had requested the extension, saying the privatisation process was very transparent and that the Romanian authorities were already experienced in running such transactions. ZF