Several assets of bankrupt Romanian state-owned energy producer Termoelectrica were auctioned for EUR 13.8 million. The assets include the Doicesti thermal power plant in Dambovita county and auxiliary assets, including some residential buildings and a club.

The assets were bought by Europea Energy Communications SRL, a firm that was founded this year, which is majority owned by a company registered in Czech Republic, European Communications SRO. The company’s shareholders are Ukrainian businessmen, according to the Romanian media.

Musat & Asociatii Restructuring &Insolvency, which is part of the Musat & Asociatii law firm, organized the auction. The firm manages Termoelectrica’s liquidation, which was decided by the company’s shareholders in March 2013.

Termoelectrica, once one of the largest electricity producers in Romania, was divided, with its viable assets were transferred to new firms, while the rest of the assets hwere put up for auction.

Andrei Chirileasa, andrei@romania-insider.com