Major energy companies to float

Stakes up to 5% in five state-run energy companies Transgaz, Romgaz, Transelectrica and two Electrica branches will be sold on the Bucharest Stock Exchange (BSE), Economy and Trade Minister Dan Ioan Popescu on Monday said. “We’re planning on listing five companies that are attractive to investors. The Economy and Trade Ministry is now finalising the necessary papers and we hope to see 5% in each of Transgaz, Romgaz, Transelectrica and two Electrica branches listed on the Stock Exchange in a few months,” Popescu specified. He did not announce which of the eight Electrica branches would float, though, and only said it was not about those undergoing privatisation. So far, privatisation procedures have been started for four Electrica branches. A final bid was submitted for two of them (Banat and Dobrogea) by Italy’s Enel Group and the transaction might become final in April. The transfer of ownership over Electrica Oltenia and Electrica Moldova is scheduled for September. ZF