Investor shows interest in insolvent Romanian energy producer

A foreign investor may be interested to buy shares in the Romanian state-owned energy company Complexul Energetic Hunedoara that entered insolvency last week. The investor is willing to bring with at least EUR 200 million to the company’s capital, according to sources close to the company, cited by local Profit.ro. The energy producer’s total debts amount to EUR 267 million. One year ago, the American company Quintana Minerals Corporation showed interest in CE Hunedoara, but in the end nothing happened. Representatives of the investor will visit the energy producer in a few days to discuss more details, according to the sources. The investor’s representatives and Romanian state officials will then go to Brussels to negotiate a state aid for the company based on a restructuring plan. On December 28, power producer’s administration board agreed that CE Hunedoara needed to enter insolvency and restructure to avoid bankruptcy. editor@romania-insider.com