Romania delays decision on listing National Salt Company

Romania’s Economy Ministry, which is the majority stakeholder in the National Salt Company Salrom, has postponed a decision on listing the company on the local stock market, according to the local investment fund Fondul Proprietatea FP. The fund, which has a 49% stake in Salrom, voted in favor of the listing, but the Economy Ministry has requested another delay to obtain further clarification from the company, said Greg Konieczny, executive vice president of Templeton Emerging Markets Group and fund manager of Fondul Proprietatea. In September last year, the Economy Ministry voted against the listing of the National Salt Company Salrom. “We want to keep this company of strategic importance in state’s ownership,” said the former Economy Minister Mihai Tudose. He also said that if Fondul Proprietatea put up for sale its stake or a part of its stake in the company, Salrom could repurchase the shares. The National Salt Company Salrom is the only local producer in this field, which exploits and manages salt deposits in Romania, but also sells salt and non-metallic substances. editor@romania-insider.com