Romanian Government Considers Privatizations

Businessn.a. ♦ Published: April 10, 2012; 16:20 ♦ (Vindobona)

The remaining publicly held stakes in Petrom, a subsidiary of Austrian OMV may be privatized. OMV does not participate in the transaction.

Romanian Government Considers Privatizations / Picture: © Flickr / Dan Nevill (CC BY-ND 2.0)

Last month, Romania sold a 15 percent stake in power grid operator Transelectrica for about 38 million euros, setting the stage for more such deals.

Beyond making the outdated state sector - which accounts for nearly a quarter of employees and is a drain on public finances - more efficient, such sales would also increase capital market liquidity and raise vital funds for…