Hidro up next after close fight for Romgaz
Romania mandated a Goldman Sachs-led consortium to run the Bucharest IPO of Romgaz on Tuesday, with some bankers close to the deal refuting suggestions that the fees on the winning bid are barely high enough to cover costs. Tenders for the mandate of the IPO of Hidroelectrica — the next large-cap on the Romanian privatisation agenda — could open in around two weeks, EuroWeek understands. The company has been estimated to be worth €3bn.
The winning consortium which also includes Erste Bank, Banca Comerciala Romana and Raifeissen will make good money on the deal, said one banker in the region.
Citi, ING and Société Générale, and JP Morgan, UniCredit, Alpha Bank and BT Securities were the two other consortia bidding for
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