The bid-submission deadline expired Tuesday at 10:00 a.m..
Electrica SA wants to sell shares representing 105% of the company’s share capital and the new units will be issued through capital increase. Through this offer, the state plans to sell a majority stake in the company to private investors.
Electrica is entirely owned by the state, through the Economy Ministry, and has a share capital of 2.06 billion lei (EUR0.46 billion).
Five of the eight electricity distribution units of Electrica were privatized between 2004 and 2008. They were bought by Czech group CEZ (Cehia), Italy’s Enel and German company E.ON.
Electrica distributes electricity countrywide and serves 3.5 million clients. (EUR1=RON4.4232)