October 2 (SeeNews) - Three consortia have submitted offers to advise the sale of a 51% stake in Romanian energy holding Hunedoara, the economy ministry said on Wednesday.
Bids were received from a consortium comprising Deloitte Consultanta and Musat si Asociatii, a partnership of PricewaterhouseCoopers Management Consultants, PricewaterhouseCoopers Audit and D & B David si Baias and an association of KPMG Romania, Tuca Zbarcea si Asociatii and KPMG Advisory, the energy department within the economy ministry said in a statement.
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The offers will now be assessed. The ministry provided no details about when the winner will be announced.
Romania plans to privatise Hunedoara via a capital increase. The country will select a strategic investor via a sealed tender combined with a public call tender, preceded by negotiations based on the preliminary non-binding offers submitted.
Hunedoara, set up in 2012, has a share capital of 203.4 million lei ($62.9 million/46.4 million euro) and is fully owned by the Romanian government through the economy ministry. The holding has an installed capacity of 1,435 megawatts and accounts for some 5.0% of Romania's total electricity output. It incorporates thermal power plants Paroseni and Mintia together with viable coal mines Vulcan, Lonea, Livezeni and Lupeni.
(1 euro = 4.4586 Romanian lei)