Exclusive    Greg Konieczny, Franklin Templeton: Very little progress in terms of privatizations, but National Company of Airports is ready to be listed

2012-05-11 11:03:29

This is the statement of local manager of Franklin Templeton Investments, the company  administrating Fondul Proprietatea, regarding the plans of privatizations and listing of main state-owned companies in Romania, comprising also the Bucharest Airports National Company (CN. Aeroporturi Bucuresti). According to Greg Konieczny (photo), the listing planned for the Bucharest Airports National Company is expected to happen this year, but the latest uproars on the political stage and also the latest IMF visit in Romania, could delay the listing. However, Greg Konieczny told the Diplomat-Bucharest that the company is profitable and ready to be listed and efforts and pushing are being made to the Ministry of Transportations to speed up the process. According to current data, the value of CN Aeroporturi Bucuresti is calculated at EUR 73.6 million , with Fondul Proprietatea owning 20 percent, while Romania state holds the rest. As of March 31 this year, the portfolio of the fund was heavily weighted towards companies operating in electricity, oil and gas, representing almost 87 percent of  the fund’s net assets total value (NAV). In the same period, the fund reports a portfolio of 73 companies, with 27 listed and 46 unlisted. In comparison, the fund managed 83 companies as of December 2010. At 12 months, by December 2011, the fund added stakes in Erste Bank, Raiffeisen Bank and Banca Transilvania, besides increased exposure to Alro, Azomures, BRD- Societe Generale and Conpet.