Romania to Launch Romgaz Privatisation in November

Reuters

BUCHAREST, Sept 19 (Reuters) – Romania is to sell a minority stake in state-owned gas producer Romgaz in an initial public offering in early November, the head of the energy privatisation department said on Thursday.

The listing is part of wider privatisation commitments that Romania has agreed with the International Monetary Fund.

Prime Minister Victor Ponta said earlier this week the government plans to sell a 15 percent stake in Romgaz under the country's new deal with international lenders due to be sealed later this month.

"It was not the need for capital that made us list Romgaz, but the need for transparency," said Gabriel Dumitrascu.

"Lignite power holding Oltenia, Hidroelectrica and Electrica will be listed next year. The state will retain 40 percent in Electrica."

The economy ministry owns 85.1 percent in Romgaz and investment fund Fondul Proprietatea holds the remaining.˛

Romania raised 72 million euros from a secondary offer in Transgaz earlier this year and is expected to complete the initial public offering of a 10 percent stake in state-owned nuclear power producer Nuclearelectrica on Friday.

(Reporting by Ioana Patran; Editing by Radu Marinas and Greg Mahlich)

Copyright 2017 Thomson Reuters. Click for Restrictions.

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