The Romanian State has to announce openness to expressions of interest for Petrom's privatisation on the international market until September, as stipulated in the new supplementary economic policy memorandum of the stand-by agreement with the IMF. IMF is this way trying to see the privatisation of the largest Romanian company started before the expiry of the agreement, which was extended until September. Petrom's privatisation strategy, which is now being prepared by the consortium comprised of Credit Suisse First Boston and ING Barings investment banks, is about to be completed and will be presented to the Romanian authorities some time in the next few weeks. The Government pledged to have Petrom's privatisation strategy completed and endorsed in April, according to the memorandum signed with the IMF. The analysts estimate Petrom's' market value to reach more than $2bn. ZF
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