Romania To Retain Majority Packages In Strategic Companies - PM

Romanian Prime Minister Emil Boc said Monday that he supports selling minority packages in companies of strategic importance, such as Trangaz, Romgaz and Transelectrica, but the state needs to hold on to majority participations, in order to have "a strong say" in energy and other important sectors.

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Speaking in Ploiesti, at a meeting with businesspeople in Prahova county, Boc said he is a fan of "transparent privatizations for the state's interest."

In its agreement with the International Monetary Fund, the Government has pledged to sell 15% of Transelectrica, Transgaz and Romgaz, at least 10% of Hidroelectrica and Nuclearelectrica, 10% of Petrom, 20% of CFR Marfa and up to 20% of Tarom.

Boc criticized Petrom's privatization, pointing out that a company worth EUR18 billion at the moment was sold in 2004 to the Austrian group OMV for less than $700 million.

The prime minister encouraged the businesspeople to sign public-private partnerships, arguing that the relevant law has been amended to bring "multiple opportunities for the business environment." He added that the Government is considering such partnerships to build highways, ring roads, bridges, hydropower plants and a prison.

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