Five consortia place bids to manage Romania's Hidroelectrica IPO

BUCHAREST (Romania), January 20 (SeeNews) - Romania's largest hydropower producer Hidroelectrica said on Monday five consortia comprising local and foreign companies have placed bids to manage the initial public offering (IPO) of a 15% stake in the company.

One of the bidders is a consortium comprising Alpha Finance Romania, Alpha Bank Romania, Deutche Bank - London branch, SSIF Intercapital Invest, SSIF Broker and Unicredit Bank Austria, Hidroelectrica said in a statement.

Another consortium that entered the race is made up of Erste Group Bank, Goldman Sachs International and Banca Comerciala Romana. The third bidder is a consortium of BRD Groupe Societe Generale, Societe Generale and JP Morgan Securities plc.

A consortium consisting of Citigroup Global Markets Limited, Wood&Company Financial Services, NBG Securities Romania, NBG Securities, Swiss Capital and BT Securities also placed a bid in the tender. The fifth bidder is an association of Raiffeisen Capital & Investments and Morgan Stanley & Co. International plc.

The tender commission will assess the offers after opening the bids, the statement added without providing further details.

Romania plans to list Hidroelectrica on the Bucharest Stock Exchange (BVB) and the London Stock Exchange in June. The state owns 80.06% of the company and property restitution fund Proprietatea owns the remaining 19.94% stake.

According to privatisation plans agreed with the IMF, Romania should sell minority stakes in key energy and transport companies, including  Hidroelectrica.

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