The Privatization Commission selected five companies for the final phase of the selection within the privatization process of the Romanian company Electrica Muntenia Sud: CEZ (Czech Republic), Enel (Italy), Gaz de France, Iberdrola (Spain) si RWE Energy (Germany). The deal might top 750 million Euros for 67.5 per cent of the shares.
Initially eight contestants applied for the selection, but AES (USA), Union Fenosa International (Spain), and EVN (Austria) did not meet all conditions.
The buyer will purchase 50 per cent of the shares and will grant funds for a capital increase up to 67.5 per cent.
Electrica Muntenia Sud has a social capital of 191.2 mln RON and over one mln clients. The company boasts a turnover in 2004 of 1.11 bln RON.