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Auto & Transporturi

Romania Signs Brokerage Deal For Tarom IPO

The Romanian Transport Ministry has signed an agreement with brokerage houses Carpatica Invest and Swiss Capital for the sale of a 20% stake in state-run airline Tarom, the ministry said in a statement Friday.

Florentina Dragu · 16 decembrie 2011 · 1 min de citit

Carpatica Invest and Swiss Capital will draft a preliminary prospectus for the initial public offering of Tarom’s shares within 50 days after it receives all pertinent data from the ministry. The IPO will be completed within three months after the brokerage contract enters into force.

The consortium will receive a fixed commission of 1.99% for services rendered, the ministry said.

Carpatica Invest and Swiss Capital submitted the only offer to broker Tarom’s IPO. The ministry initially rejected the offer, saying the proposed commission was too high, but reconsidered after the consortium halved its offer.

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