Fierce clash to provide CEC privatisation advice

The privatisation of Casa de Economii si Consemnatiuni (Romanian Savings Bank – CEC) has aroused a lot of interest from advisory firms that are ready to assist the State in this transaction. The tender to appoint a consultant for the State in CEC’s case attracted 22 letters of interest from strong contenders such as investment banks Citibank, HSBC, Credit Suisse First Boston, JP Morgan, Merrill Lynch, CA IB and Daiwa, banking sources say. The deadline for submitting expressions of interest expired on June 7, so the letters are now being analysed for short-listing, which will not allow for the selection of two candidates from the same country. The consultant for CEC’s privatisation has to be selected by September at the latest. ZF