Romania Plans Further Privatizations

Politics ♦ Published: March 27, 2012; 15:41 ♦ (Vindobona)

Above all, a sale of the minority stake in the oil company Petrom could bring up to $ 600m. The Austrian OMV, which is the majority owner of Petrom, could be interested.

Romania Plans Further Privatizations / Picture: ©

Bids for a 15 percent stake in Romanian power grid operator Transelectrica have passed the minimum threshold of 70 percent, stock exchange data showed on Tuesday, meaning a sale will go ahead. While it would raise only a maximum of $ 64m, sealing a deal would bode well for a host of other deals under Romania's International Monetary Fund-agreed privatisation plan that could raise nearly…