Romania's Proprietatea Fund receives offers for its 13 unevaluated companies

Publish date: 06-08-2008
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Romania's Proprietatea Fund, created to pay damages to people whose properties were seized during communism, received offers from four consultancy companies for its 13 unevaluated holdings in the portfolio, announced the fund's GM, Daniela Lulache.

Offers to evaluate the 13 holdings were received from Darian Rom Suisse, Gestaco, JPA and Alfa Chim. The offers will be opened today.

Proprietatea Fund currently owns 76 evaluated holdings in the companies from its portfolio.

The fund organized another public auction to select an evaluator in January 2008, when consultancy firms PricewaterhouseCoopers and Darian Rom Suisse Cluj-Napoca shared the evaluation process of most companies in the fund's portfolio.

Proprietatea Fund plans to be listed on the Bucharest Stock Exchange (BSE), as well as on an international stock, in London or New York. The company's officials proposed new deadline for listing on BSE, towards the end of the first half of next year.

The Proprietatea Fund is currently seeking an administrator to help list the company on the stock exchange and does not exclude the possibility to choose two administrators.

The fund received letters of intent from 28 companies by August 1. The only Romanian company that made an offer to administer the 4 billion euros assets was BCR Asset Management, a division of Romania's largest bank by assets Banca Comerciala Romana.


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