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Romanian Govt Estimates EUR2.3M Income From Privatizations In Tourism This Year

The Romanian Government estimates it will earn EUR2.3 million this year by privatizing companies under the management of the Tourism Ministry, while spending RON250,000 (EUR1=RON4.2723) on the fees of privatization agents or law firms.
Romanian Govt Estimates EUR2.3M Income From Privatizations In Tourism This Year
26 mart. 2009, 15:42, English

The income and expenses estimates are included in the Tourism Ministry’s budget on the privatization activity in 2009, approved recently by the Government.

The amount of RON125,000 would be paid on evaluation reports during the privatization and post-privatization process and RON125,000 would be spent on advertising.

The Government decided recently that the companies in which the Tourism Ministry holds shares will be privatized through direct negotiations or following an auction and not through the stock exchange. The decision was taken on account of the world financial crisis, which led to the drop of share prices.

The Romanian Tourism Ministry holds shares, on behalf of the state, in 23 companies, but only seven of them are affected by Government Decision no. 733/2008, regarding the privatization of certain tourism firms through secondary public offer.

The seven companies are Predeal, of which the ministry owns 90%, Litoral Constanta (82,27%), Mamaia (96,57%), Neptun-Olimp (52,22%), Athenee Palace (33,98%), Lido (42,87%) and Robinson (21,59%).