Business in Romania blog
The business in Romania blog writes about the Romanian business landscape, doing business in Romania, investing in Romania business and debating on business issues in Romania. Check this Blog's Policy here.



Tuesday, October 19, 2004
Business in Romania blog
The Distrigaz, Petrom and Electrica privatisation are three very important steps in the Romanian privatisation process, meant to eliminate the state-owned monopols in some vertical industries in Romania.

Below is a detailed presentation of the Ditrigaz privatisation, courtesy of REUTERS.

---------------------------------------------

BUCHAREST, Oct 18 (Reuters) - France's Gaz de France (GDF) will pay a total of 311 million euros to get a majority stake in Romania's gas distributor Distrigaz Sud, the Romanian Economy Ministry said on Monday.

Privatisation of Romania's two main gas firms Distrigaz Sud and Distrigaz
Nord is a key move under accords with international lenders and a major step in
reforming the debt-ridden energy sector.

"Gaz de France will pay 128 million euros for a 30 percent stake (in
Distrigaz) and another 183 million euros to boost its participation to 51 percent,"
the ministry said in a statement.

Under the deal, to be signed during the visit of French Prime Minister
Jean-Pierre Raffarin to Bucharest, Gaz de France is committed to use the funds it
injects in Distrigaz for investments, upgrading and environment protection.

"That means Gaz de France has evaluated Distrigaz Sud at 426 million euros,
taking into account that on April 30, 2004, it (Distrigaz Sud) had a net
financial debt of 95 million euros," the statement said.

The transaction will be finalised by the end of the year, it added.

Romania in August chose GDF and Germany's Ruhrgas as winners in the sale of
its two main distributors.

Distrigaz Sud had a 462 million euros sales in 2003, when its net profit,
computed in line with International Accounting Standards totalled 21 million
euros.

Posted by Mihai Botea : 10/19/2004 05:55:00 pm Gaz de France to buy majority in Distrigaz
Business in Romania blog
Business in Romania blog


Business Archives

06/01/2004 - 07/01/2004
08/01/2004 - 09/01/2004
09/01/2004 - 10/01/2004
10/01/2004 - 11/01/2004
11/01/2004 - 12/01/2004
12/01/2004 - 01/01/2005
01/01/2005 - 02/01/2005
02/01/2005 - 03/01/2005
03/01/2005 - 04/01/2005
04/01/2005 - 05/01/2005
05/01/2005 - 06/01/2005
06/01/2005 - 07/01/2005
07/01/2005 - 08/01/2005
08/01/2005 - 09/01/2005
09/01/2005 - 10/01/2005
10/01/2005 - 11/01/2005
11/01/2005 - 12/01/2005
12/01/2005 - 01/01/2006
01/01/2006 - 02/01/2006
02/01/2006 - 03/01/2006


www.flickr.com
This is a Flickr badge showing public photos from Mihai Botea. Make you own badge here.


Add Business in Romania to My Yahoo!
Google


Previous Posts

Links

Business in Romania Feed Burner
 

Business in Romania is powered by Blogger

This website is proud to be designed by Mihai Dragan

I usually listen to THIS kind of music.