Romanian Authorities Take Electrica Off Private Management List

The letter of intent agreed between the Government and the IMF, following the latest IMF delegation to Romania, no longer includes Electrica among the companies to receive private management, as the draft letter did.

According to the letter, the first companeis to receive private management remain Posta Romana, Tarom, Electrificare CFR, SN Lignitului Oltenia, Electrica Furnizare, Hidroelectrica, Romarm and Oltchim (OLT.RO).

CFR Marfa was removed from the list and it will undergo privatization with a strategic investor, which will be concluded by the end of October next year. The privatization may also include the European Bank for Reconstruction and Development and the International Finance Corporation, a branch of the World Bank.