PRIVATIZATION
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Transport Ministry To Select Advisor For Tarom IPO By End September
Romanian Transport Ministry will select by end September the legal advisor and broker for the sale of a 20% stake in state-run airline Tarom.
Ten Seaside Hotel Operators With 10,000 Rooms Barely Match Turnover Of Two McDonald’s Restaurants
The privatization of hotels on the Romanian Black Sea coast has had a paradoxical effect: lacking investments and efficient management, many hotels are empty.
Transport Ministry Sees Privatization Revenues Triple To RON50M
The Romanian Transport Ministry will revise its privatization budget this year and expects it will obtain revenues of 52.5 million lei (about EUR12.3 million), mainly from dividends, triple...
Fondul Proprietatea Willing To Help With Future Bourse Privatizations
Greg Konieczny, manager of the EUR4 billion assets of Fondul Proprietatea, says Petrom’s offering had a “disappointing” result because it was not well structured. The fund’s official offered...
Boc: Government Will Keep Majority In Strategic Companies
Romanian Prime Minister Emil Boc said Monday that he supports selling minority stakes in companies of strategic importance, such as Trangaz (TGN.RO), Romgaz and Transelectrica (TEL.RO), but...
Whoever Pays EUR610M First Can Get 9.8% In Petrom
The government chose to sell the 9.84% in Petrom (SNP.RO) using a novel approach for the Romanian capital market: an auction starting from a maximum price of 0.46 lei (EUR0.11) per share wit...
Special Committee To Oversee Privatization Of State-Owned Farming Companies
Romania's Government on Wednesday decided to put together a special committee to oversee the privatization or management until sale of state-owned farming companies.
Proprietatea Fund: Romania’s Biggest Privatization At 50% Discount
The reduction of the Romanian state’s stake in Fondul Proprietatea (FP.RO) to less than 33% transfers control over the investment fund’s EUR4 billion assets into the hands of private investo...
Ford Risks EUR14M Fine For Falling Short Of Craiova Plant Output Target
Ford has committed in the privatization contract signed in September 2007 to manufacture 250,000 cars in Craiova in 2011, a target impossible to achieve considering that only 3,000 cars were...