Romanian Power Company Oltenia Gets The Go-Ahead
Romanian Economy Ministry Tuesday approved the merger of mining company Societatea Nationala a Lignitului Oltenia (SNLO) and energy producers Turceni, Craiova and Rovinari into a single power company, called Complexul Energetic Oltenia.
The ministry is majority shareholder in all four companies involved in the merger.
Minority stockholders Fondul Proprietatea (FP.RO), Termoelectrica and ICM also agreed with the operation, the ministry said in a statement.
“The shareholders expressed their clear decision to set up a strong and viable company as soon as possible,” the statement noted.
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