'This morning has been published on the London Stock Exchange, the ad listing of Electrica. Electrica is a company that looks very good as financial performance, and recently managed to collect a significant amount that was recovered from the CFR. Business is a safe, regulated, guaranteed and hope it will be successful, "said Nicolescu.
On the other hand, Hidroelectrica will not be listed on the stock exchange this year, he said.
"We hope to get out of insolvency early next year," added the Deputy Minister.
Two weeks ago, Nicolescu said that CFR duty paid £ 230 million to Electrica, which will improve the financial situation of the company for listing on the exchange.
"CFR has paid the amount of money owed to Electrica, about 230 million lei. It is a very good thing in terms of stock market listing Electrica as a normal entry, "said Nicolescu.
He expressed hope that other state companies who owe Electrica as Oltchim Copper Min and Remin to pay these debts, financial situation of Electrica will be improved for listing on the exchange.
At the end of April, the Department of Energy announced that CFR SA, the public company in charge of operation and maintenance of the national railway network, has signed an agreement with Electrica on extinguishment of the debt.
'By 15, Electrica will receive 228 million. It is a normal entry and an important step, undertaken for the successful listing of Electrica', Energy Department officials said.
Government committed, in agreement with the International Monetary Fund wants to list on the stock exchange in June 2014, supplier and distributor of electricity. The Letter of Intent between the Government of Romania and the International Monetary Fund on March 5, 2014, the principal terms referring to S.C. Electrica S.A. are:
separation liquidation of three regional companies maintenance of loss;
extraction of minority shareholdings owned Electrica privatized distribution companies;
solving the problem of non-payment by CFR purchases electricity from power;
launch an initial public offer for majority stake in state after capital increase planned.
Launching offer is a structural benchmark, and the deadline letter is on May 31, 2014.
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