Romania aims for EUR 500 mln from largest power producer listing in 2016

Romania will get at least half a billion euros for a 15% stake in the state-owned power producer Hidroelectrica, believes Remus Borza, the company’s judiciary administrator. This will happen via the stock market listing scheduled for the first half of 2016, after the company’s insolvency exit this year, he added, quoted by Agerpres. “There’s no other Romanian company better than Hidroelectrica, with a 65% EBITDA of its turnover in 2014,” said Borza. Hidroelectrica is also the largest energy producer in Romania, with a 30% market share. It is for the second time insolvent, after a first insolvency period between June 2012 and June 2013. It entered insolvency again in February 2014. Romanian power producer Hidroelectrica doubles profit editor@romania-insider.com