German utilities giant RWE, a contender in the race for the acquisition of electricity distribution company Electrica Muntenia Sud, considers Romania to be the key market for its development strategy for Central and Eastern Europe, Berthold Bonekamp, RWE Energy chairman, said at the end of last week in Bucharest.
Besides electricity distribution companies and electricity production facilities, RWE''s policy in Romania is focused around opportunities in the drinking water sector, as well as the gas market.
"Besides the distribution sector, RWE is also interested in other investment projects in Romania, mainly in the domain of electricity production. Our purpose is to get a strong foothold in Romania, and - using our expertise, to improve the production facilities in Romania for an optimal integration into the EU power market," said Bonekamp.
RWE''s targets in Romania include the Turceni energy complex and hydropower station projects, but the German company does not rule out an involvement in the Cernavoda nuclear power station''s electricity production.
The German group will consider any opportunity appearing on Romania''s energy market, irrespective of geographical location. In its attempts to win the race for the acquisition of two thirds of Electrica Muntenia Sud''s shares, RWE is willing to pay an accurate price that takes into account the real value of the company.
"The first step in our policy is a strategic partnership with Electrica Muntenia Sud. We are a long-term investor. We are pursuing regional company status for Electrica Muntenia Sud (EMS), which should allow it to enjoy both autonomy and the benefits of being a member of the RWE group. A strategic alliance between RWE and EMS will be beneficial for consumers, shareholders, employees and the general public," Bonekamp added. RWE Energy filed the position documents on November 18th 2005, and is preparing to submit its final bid in January 2006.
RWE''s contenders in the EMS privatisation are CEZ from the Czech Republic, Italian firm Enel, Gaz de France, German firms E.ON and EnBW, the Spanish companies Iberdola and Union Fenosa, AES Corporation based in the United States, and EVN, Austria.
In 2002, RWE had the chance to directly buy EMS, but at that time the group''s M&A policy was directed toward the British and North American utility markets.
adrian.mirsanu@zf.ro
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