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Enel shopping spree in Romania becomes official

de     HotNews.ro
Miercuri, 6 iunie 2007, 0:00


The privatization contract for Romanian electricity distribution company Electrica Muntenia Sud will be signed on Thursday with the Italian company Enel, a press release from the Romanian State Assets Authority (AVAS) informs.

The signing of the contract will be followed by official statements made by the Economy Minister, Varujan Vosganian, the AVAS president, Teodor Atanasiu and the Enel CEO, Fulvio Conti.

In 2006, the Italian group was declared ass winner in the bidding for the largest branch in the national energy distribution company, Electrica. Enel offered 820 million euros for 67.5% of the stock at Electrica Muntenia Sud.

Enel will buy 50% of the stock directly from Electrica and will earn the rest through social capital subscription.

Out of eight branches of Electrica, four were privatized between 2004 and 2005, two of them being also bought by Enel.




















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