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Romania to list energy company in 2 years

  Romania’s privatization agency AVAS announced plans on Wednesday to float around 25% in a future national energy holding company on the Bucharest stock exchange.

 

“The company ... will be listed on the bourse in Romania and on an important international market ... probably London,” agency head Teodor Atanasiu told Reuters in a telephone interview. “Procedures to set up the company will start in two, three months so ... in about two years it could be listed on the Bucharest bourse.”

The company, to be named Electrica SA, will include the last three remaining state electricity distributors and other energy assets, Tariceanu said at a news conference in Bucharest Wednesday.

Earlier on Wednesday, the government cleared the bill that sets up the company, which will have an estimated value of up to €24 billion. (Reuters)