IMF intent letter: the government will privatize some energy companies if it will fail to create Electra and Hidroenergetica giants - financiare.ro
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News » February, 2011 » 11 February 2011

IMF intent letter: the government will privatize some energy companies if it will fail to create Electra and Hidroenergetica giants
11.02.2011, 12:57 | Finance-Banks | 654 views



The government will sell its minority shares it holds at energy companies that should be part of the Electra and Hidroenergetica giants.

However, it will not be done unless the strategy of setting up the new national giants will not be successful until the end of 2011, the government’s intent letter to the IMF, for the end of the January – February evaluation reads quoted by Romanian news agency Mediafax.

The letter reads that the listing of 15% of the shares held by the Economy ministry at Romgaz, the natural gas producer will be undertaken until Spring 2012 with a several months delay than initially planned.

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