State intends to raise EUR 1 bln from selling minority share packages

Romania is trying to raise more money to weather the storm by selling its minority participation in several companies which are either floating on the Bucharest Stock exchange or which will be listed, according to newswire Mediafax. Such companies include Petrom, Transelectrica and Romgaz. The state should raise over EUR 1 billion from these sales, according to its estimations. The state plans to sell as 12.64 percent participation in oil company Petrom, out of its total participation of 20.64 percent, according to an official document, quoted by Mediafax. Petrom and Transelectrica are stock exchange listed companies, but Romgaz is on the list of companies which will be listed. Conpet, Transgaz, Oil Terminal, GDF Suez Energy, Distrigaz Sud Retele, E.ON Gaz Romania and E.ON Gaz Distributie are also on the list of companies where the state holds minority participations which it intends to sell.