During the general shareholder meeting of BVB-listed electricity supplier Electrica, general manager Corina Popescu did not deny that the company was considering a project to sell the group's supply arm to Hidroelectrica, Profit.ro announced.

However, the company said it would report on such plans only when the transaction reaches a certain stage of maturity.

Hydropower company Hidroelectrica, controlled by the Romanian state through the Ministry of Energy, has launched a public procurement procedure for "specialized consulting services, evaluation and intermediation of mergers and acquisitions (M&A), as well as due diligence consulting services, in order to acquire a company that operates in the field of electricity and natural gas supply," Profit.ro reported at the end of March.

Sources familiar with the deal claim that among the companies potentially targeted by Hidroelectrica is Electrica Furnizare, the largest electricity supplier in Romania, part of Electrica group, where the largest shareholder is the Romanian state, with over 48 % of capital.

andrei@romania-insider.com

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