Romanian energy companies, looking for purchases in Moldova

Romanian energy transporter Transelectrica and gas transporter Transgaz want to buy stakes in energy companies in the Republic of Moldova that will be privatized.

The two companies’ representatives handed their intention letters to Moldovan officials during a joint meeting of the Romanian and Moldovan governments that took place yesterday at Neptun.

Prime Minister Victor Ponta announced this spring that the two companies, as well as the gas producer Romgaz had funds for investments, so they could buy stakes in energy companies in Moldova. In February, electricity distributor Electrica also said that it was interested to enter the energy distribution market in Moldova through an acquisition. In the last two years, the Government of the Republic of Moldova has included on the privatization list the electricity distribution companies RED Nord and RED Nord-Vest. It plans to sell a 75% stake in each. The procedure was, however, cancelled in the spring of 2014, after only one Russian bidder remained in the race. editor@romania-insider.com