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Thursday, December 09, 2004
Business in Romania blog
The list of no-tender privatisation continues.

After several EU officials warning Romania against doing such privatisations, after a shoking declaration of Adrian Nastase yesterday (on Evenimentul Zilei) from which it can be deducted that a PSD member took a 700 milion EURO commision on the Petrom privatisation (Nastase was recorded saying this !!), the Government comes and makes another no-tender privatisation. The Craiova-based company Electroputere goes to Siemens.

AVAS said that the privatisation was suitable for such a process (is there a profile?). This kind of privatisation kept out companies like General Electric and Bombardier that were interested in Electroputere, but now don't stand a chance.

Before selling the company, Electroputere will be wiped out of any debts to the State. AVAS currently owns 62,5% of Electroputere.

Thanks to Realitatea Romaneasca and to the romanian-economics@yahoogroups.com for the info.

Posted by Mihai Botea : 12/09/2004 01:26:00 pm Siemens Takes Over Electroputere
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