Romania Seeks $464 Million From Company Stake Sale to Enel
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Romania may raise an estimated 377 million euros ($464 million) from the sale of a minority stake in energy company Electrica Muntenia Sud to its owner, Italy’s Enel SpA, this year.
The Bucharest-based Cabinet approved a memorandum today to go ahead with the sale of a 13.57 percent stake in the power company to Enel by December, Andrei Zaharescu, a government spokesman said in a phone interview today. The administration will hold talks with Enel to conclude the sale, which is part of an option from a 2008 contract when the Italian company bought a majority stake in the unit.