A consortium of Carpatica Invest and Swiss Capital will intermediate the listing of the 20 percent stake in the National Society of Romanian Air Transport Tarom SA on the Bucharest Stock Exchange (BVB), part of the company’s privatization plan, according to the Ministry of Transport.

The contract has been signed after the two companies reduced the financial offer by over 50 percent. The brokerage fee represents 1.99 percent of the total value of transactions with Tarom SA shares. The privatization of Tarom is part of the Romanian Government’s agreement with the International Monetary Fund (IMF).

Romania’s state-owned airline Tarom recorded total revenues of EUR 305 million for 2010, up 15 percent compared to 2009, while the company’s net turnover was EUR 218 million, up 13 percent from 2009. It posted a loss of EUR 78.9 million in 2010, higher than the EUR 55 million loss in 2009.

Irina Popescu, irina.popescu@romania-insider.com

(photo source: Tarom)