about us | newsletter | contact | archive | members area

»
  News:      POLITICS   |   ECONOMICS   |   ENERGY   |   INVESTMENTS   |   APPOINTMENTS   |   GREEN   |   INFRASTRUCTURE   |   REAL ESTATE   |   AGRIBUSINESS   |   DRIVING   |   CITY LIFE   |   EVENTS   |

Greg Konieczny, FP: We really need a miracle to think about Hidroelectrica's IPO this year

There are some good news and some bad news about Hidroelectrica lately, according to Greg Konieczny, director of Fondul Proprietatea, who said in a press meeting that 'we really need a miracle to think about Hidroelectrica's IPO this year'.

2017-04-25 15:45:26

"The bad news is about the corporate governance of the company," mentioned Konieczny. "We hoped that at the meeting that took place last week there would be an appointment of new board members for the four-year mandate based on the selection that was done by the previous government. Instead, we received six new members on interim bases for four months and I have read the comments on the quality of those people. That is definitely a setback in terms of quality of the governance of the company and this decision clearly delays any prospects for the IPO of Hidroelectrica this year."
According to FP's director, ‘you cannot IPO the company with an interim board.'
"Hopefully, in three or four months there will be appointed a new board for a longer period and after that it takes three to six months for a new executive management hopefully before the end of the year," said Konieczny. "The good news is the company has won all the litigations brought by so-called ‘smart guys' related to the insolvency process. The company is also delivering very strong financial performance right now."



COMMENTS
There are 0 comments:

 
ADD A COMMENT
 
Name
Email
Comment
Validation Code
   
 
 

0 Comments  |  6620 Views
Daily Info
ADM Capital sells Brikston Construction Solutions to Wienerberger AG

ADM Capital, an international private equity fund, acquired a 98 per cent stake in Brikston Construction Solutions (Brikston) in July 2014 and has agreed to sell its full shar...

PM Tudose: We will shortly come up with new form of split VAT collection

A new form of split VAT collection, which will respond to the requests made in this period by business representatives, will be presented shortly, Prime Minister Mihai Tudose ...

Three Romanian companies among the fastest-growing technology companies in CE

Three Romanian companies made it to the Central European Deloitte Technology Fast 50 ranking and one received a special award for the Most Disruptive Innovation.

EBRD to become a shareholder in Agricover Holding

The EBRD and Agricover Holding have signed legal agreements today confirming the Bank's intention to become a shareholder in the Romanian agribusiness company.

Colin Lovering joins Avison Young in Romania

Avison Young announced the strategic hiring of business development specialist Colin Lovering, a press release shows.

 
 
   
advertising

advertising

advertising

advertising

advertising

advertising

More on News
PM Tudose: We will shortly come up with new form of split VAT collection

A new form of split VAT collection, which will respond to the requests made in this period by business representatives, will be presented shortly, Prime Minister Mihai Tudo...

Iohannis: Advanced presence on Eastern Flank must be reinforced, especially in Black Sea

President Klaus Iohannis stated on Monday that the advanced presence on NATO's Eastern Flank must be reinforced.

MAE requests Ukraine to adopt necessary measures so that Romanians learn in their mother tongue

The Foreign Affairs Ministry (MAE) announced that it will continue to take steps with the international authorities to signal the negative impact of the legislative amendme...

Romania initiates first meeting of EU Council Presidencies' Trio with Finland and Croatia

Minister-Delegate for European Affairs Victor Negrescu has initiated on Monday in Brussels, the first, minister-level meeting of the Trio of Presidencies that Romania is du...

Romania's inflation rate up to 1.8 percent in September, says INS

The annual inflation went up in September to 1.8 percent from 1.2 percent in August, according to data of the National Institute of Statistics (INS), as reported by Agerpre...

ADM Capital sells Brikston Construction Solutions to Wienerberger AG

ADM Capital, an international private equity fund, acquired a 98 per cent stake in Brikston Construction Solutions (Brikston) in July 2014 and has agreed to sell its full s...

Mol announces plans to build new headquarters in Budapest

Mol Group announced its plans to relocate its corporate headquarters by 2021 to Mol Campus, the company's new 83,000 sqm office.