Thursday, July 5, 2012

Romania To Sell Assets After Political Turmoil Eases, Bursa Says

Romania plans to sell a minority stake in natural-gas producer Romgaz SA this “autumn” and will wait for political turmoil to ease “soon” before selling another stake in its Transgaz SA (TGN)utility, Bursa reported, citing an economy ministry official.

The Romanian energy-market regulator and a commission are working to set up regulated gas-transport tariffs by the time a schedule for the sale of a 15 percent stake in Transgaz is released, Remus Vulpescu, the head of the industry privatization office, told the Bucharest-based newspaper. This would enable the natural-gas grid operator to forecast its revenue for the next four years, Bursa said.

An auction to select lead managers for the sale of a minority stake in nuclear-power plant operator Nuclearelectrica SA will be resumed “soon,” Vulpescu said, according to Bursa.

To contact the reporter on this story: Irina Savu in Bucharest at

To contact the editor responsible for this story: James M. Gomez at

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