EBRD wants to buy a 5% stake in Hidroelectrica before IPO, Energy Minister says

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.”

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