CEn Hunedoara has a share capital of 203.39 million lei (EUR46.4 million). The company will issue new shares corresponding to 105% of the existing capital, which later will be offered for subscription on the stock exchange, the document noted.
Founded in 2012 following the merger of state-run thermal power plants Deva and Paroseni, CEn Hunedoara has an installed capacity of 1435 megawatts. The holding covers about 5% of Romania’s electricity production.
Under a EUR3.6 billion loan agreement with the International Monetary Fund, Romania has pledged to sell a majority stake in CEn Hunedoara by May or June this year.
In its latest letter of intent to the IMF agreement, which was obtained by Mediafax earlier this week, the government said a decision on CEn Hunedoara’s privatization would be reached by the end of February.
The authorities then plan to hire a consultant in March to help with the sale. If no investors are found, the power holding will go insolvent, the document said. (EUR1=RON4.3825)