Within the ZF Power Summit seminar held by business daily Ziarul Financiar, Borgo said Romania needs to privatize energy sector companies for the long-term goal of sector health and competitiveness, adding price should not be the main criterion.
The government has already announced a privatizations agenda for this year, considering public-private partnerships as well as the listing of minority stakes in state-owned companies.
Asked whether the EBRD would consider buying stock in state-owned companies floated on the bourse, Borgo mentioned gas producer Romgaz and hydropower plant Hidroelectrica, two of Romania’s largest companies.
Authorities agreed with the International Monetary Fund to sell 15% stakes in Romgaz, Transelectrica (TEL.RO) and Transgaz (TGN.RO), as well as 10% stakes in Hidroelectrica and Nuclearelectrica. In addition, authorities will sell a 10% stake in private oil company OMV Petrom (SNP.RO), where it holds a total 20.6%.