ZF English

Lower privatisation revenues

02.03.2005, 00:00 6

The Office for State Interests and Industrial Privatisation (OPSPI) is expecting to receive some 13,245bn ROL (around 350 million euros) in revenues this year. From this amount privatisations will account for 12,430bn ROL (around 327 million euros). In effect, the estimated revenues from privatisation are about half that of 2004, when 24,414bn ROL (around 602 million euros) were collected. This peak in revenue was thanks to the sale of 33.34% in Petrom to Austrian OMV Group for 669 million euros, and part of this money was included in the 2005 budget. OMV acquired 51% in Petrom in a deal worth 1.5bn euros, 830 million euros of which were in form of capital inflow. OPSPI's 2005 budget only takes into account the amounts that will be received from the sale of the 30% stakes in Distrigaz Nord and Distrigaz Sud, which is worth more than 253 million euros. Gaz de France has committed to buying 30% in Distrigaz Sud, the largest natural gas distributor in Romania, for 128 million euros. The total transaction is worth 311 million euros. The German company Ruhrgas, a member of the German E.ON giant, which is one of the largest utility groups in the world, will pay some 125 million euros as part of the total transaction worth 304 million euros. ZF



 

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