Romanian state – owned energy producer Hidroelectrica recently announced two filed bids to broker the primary selling of 10 percent of its shares on the Bucharest Stock Exchange (BVB). The first consortium is formed of BRD - Groupe Societe Generale (leader), Citigroup Global Markets Limited, Societe Generale and SSIF Intercapital Invest, while the other is made up of Unicredit CAIB Securities Romania (leader), Goldman Sachs International, Unicredit Bank AG, London Branch, Erste Group Bank AG, Banca Comerciala Romana (BCR), and BT Securities.

The two offers will be evaluated in the next period by a joint commission appointed by the Romanian Ministry of Economy and Hidroelectrica.

The Romanian Government approved this January the sale of 10 percent in Hidroelectrica, the largest energy producer in Romania, on the BVB, as part of the agreement with the International Monetary Fund (IMF). Hidroelectrica’s listing procedures should be done by end-October this year.

Besides Hidroelectrica, the Romanian state also plans to sell share minority packages in Romgaz, Nuclearelectrica, OMV Petrom, CFR Marfa and Tarom.

A Goldman Sachs led consortium won the bid to list state company Romgaz on the Bucharest Stock Exchange. Erste, BCR and Raiffeiesen Capital&Investment are part of the consortium, while Intercapital Invest is also involved as a subcontractor.

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