Nuclearelectrica, Cupru Min and Transgaz, ready to become private


The Office for State Ownership and Privatisation in Industry (OPSPI) has cut back seven times the price of the tender documentation for the intermediation of the listing on the stock exchange of state-owned Nuclearelectrica, an operation that has been recently extended by three weeks until the end of September. ‘The fact that we have not sold that many tender documentation folders could also be because of the price,’ OPSPI head Remus Vulpescu said at a seminar on the listing of companies on the stock exchange. Vulpescu added that the tender documentation now costs more or less EUR 1,000 and its content has also been improved.    OPSPI does not exclude a joint venture type of investment in state-owned Cupru Min Abrud company, as the stock sale is blocked in court by Roman Copper, Vulpescu also stated. ‘Roman Copper asks the court to make the Romanian state sign the privatisation agreement’, the official further noted. The tendering procedure for the privatisation of Cupru Min was won by Canadian company Roman Copper in April. Afterwards, another Canadian company, Valhalla Resources, entered into a consortium with Roman Copper trying to buy Cupru Min.  Vulpescu also said yesterday that the prospect for the secondary offering for sale on the stock exchange of an additional package of 15 per cent of the shares the state owns in natural gas transmission company Transgaz Medias (TGN) would be finalised in a matter of days. The listing of the state-owned company stocks has been postponed by the Government several times. The latest time-frame for the operation is September, which is a prerequisite for the approval of the sixth review of the agreement with the International Monetary Fund.

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