EnglishOltchim was supposed to find a consultant for the privatization of the stake that the state holds in the company by the end of June 2011, and to find an investment bank for the privatization process by the end of September 2011, according to the Technical Memorandum of Understanding with the IMF, published on its website.
Thus the company of Vâlcea is expected to complete the privatization process by the end of 2011, according to the quoted document.
Companies that are also required to prepare for privatization include Electrocentrale Bucureşti, Filiala de Întreţinere şi Servicii Energetice Electrica Serv, Electrica Furnizare Transilvania Nord.
The Turceni Energy Complex needs to lay off 200 employees by the end of September 2011, compared to the end of 2010 and to get ready for the privatization of their majority stakes through an IPO.
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