EBRD wants to buy a 5% stake in Hidroelectrica before IPO, Energy Minister says
Petre Barac
Posted On February 17, 2020
The Romanian Government has received from the European Bank for Reconstruction and Development an offer announcing its intention to take 5% of the shares of Hidroelectrica, according to the Minister of Economy and Energy, Virgil Popescu.
“We support the listing of Hidroelectrica on the stock exchange, we have a letter of intent from the EBRD, who wants to be part of this process, to aquire a 5% stake, which will increase the value of the company. Hidroelectrica is a jewel, it is a producer of green energy, joining EBRD in this process will be a win ”, said Virgil Popescu, at Zf Power Summit, e-nergia.ro reads.
Asked what Hidroelectrica will do with the money from listing 20% of shares on the stock exchange, the minister said: investments. “Listing 20% can mean a billion or over a billion, Hidroelectrica can have an ambitious investment plan.”
