Investment banks Rothschild and Lazard have expressed interest in the job, and the list also includes a third adviser, STJ, capital market sources say.
This equity adviser is completely different from the consultant that will be selected later to assist Hidroelectrica through the actual stock sale and stock market listing.
Rothschild and Lazard are the biggest names in the world in this field.
Rothschild has had several contracts in Romania in the past few years, such as adviser of the Sphera Group (Pizza Hut, Taco Bell, KFC) shareholders in the stock sale and listing process.
Rothschild has an office in Bucharest and one of the partners, Arielle Rothschild, served as member of the Electrica board for years.
Lazard has a stronger position in the US than in Europe, but the new CEO, Peter Orszag, former advisor to President Barrack Obama and director of Office of Management and Budget, told Financial Times in November 2019 Lazard wanted more contracts in Europe.
Hidroelectrica posted 3.3 billion lei revenue and 1.3 billion lei sales in the first nine months. It ranks third in the ZF „100 cele mai valoroase companii din Romania” (100 most valuable companies in Romania) 2019 yearbook, after UiPath (EUR6.3 billion), and OMV Petrom (EUR5 billion).
(English version by Loredana Fratila-Cristescu)