“The term for floating will remain the same, namely in the first days of June. (…) Electrica is sellable and (investors – e.n.) are interested in it,” Dumitrascu said.
According to Romania’s agreements with the International Monetary Fund, state should sell a 51% stake in Electrica in June.
Government decided last year to split up Electrica into two companies ahead of the planned privatization process. The new, stand-alone company will take over Electrica’s minority holdings in other companies.
Electrica owns minority stock in nine companies, including five units of Italy’s utility ENEL and two subsidiaries of Germany’s E.ON.
Electrica also owns a 0.5% stake in Romanian Commodities Exchange.
At the end of February, Dumitrascu said that Romania plans to obtain over EUR400 million from selling 51% in Electrica, but the price also depends on market conditions.
Electrica is owned by the state through the Energy Department.