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|06 September 2018, 5:26 PM|
By Emea Riga
The Commission for Hidroelectrica's privatization could decide in September to start the procedures for choosing a new consortium to deal with listing on the stock exchange. The listing on the stock exchange of the company will take place next year, the chairman of the Hidroelectrica Directorate, Bogdan Badea, declared at the Investor Days 2018 conference organized by Fondul Proprietatea.
"In September we will be able to make a decision about launching a procurement procedure with regard to the selection of the listing consortium .... As long as there is a Government Decision for listing, we are doing normal business. We need to resume the procurement procedure. An extremely accelerated listing could happen in autumn next year. It depends on what our consultants tell us, "said Bogdan Badea.
He explained that a new procurement procedure is to be drawn up when Hidroelectrica is ready to enter the listing procedure for decisions on complex assets.
'The decisions must happen this year. We have had several discussions with other state authorities about the need for them to get involved in various projects. If the internal rate of return is positive, continue, if not, we make the decision to abandon. We would like to affect a single financial exercise with this decision and that would be the year 2018. This is our target, "said Bogdan Badea.
He also said that switching to the Sovereign Development Fund portfolio should not influence the listing process because it would only involve the transfer of shares from the Ministry's portfolio to that of the Sovereign Development Fund.
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