Five foreign companies have submitted...
Five foreign companies have submitted preliminary unbinding bids regarding participation in the tender for privatization of 51% stakes in Romanian gas distributing companies Distrigaz Sud SA and Distrigaz Nord SA.
Those submitting bids include Russia's Gazprom, French Gaz de France, Italian Enel SpA and German Ruhrgas AG. German Wintershall AG expressed its interest only in acquisition of Distrigaz Nord.
Controlling stakes in each gas company are offered for sale. These stakes will be formed from the state-owned interest and additional issue of shares.
The winner of the tender will receive the state-owned 30% stake after which it will increase the interest to 51% through the purchase of additional shares.
Romanian Economic Ministry is going to study preliminary bids and to hold detailed negotiations with each participant of the tender but the deadlines for submission of he final bids are not set yet.
