Romania: Transgaz to set up joint venture in Moldova to participate in Vestmoldtransgaz’s privatisation

The Shareholders Extraordinary Assembly of Transgaz company on Tuesday approved to set up a company in the neighbouring Republic of Moldova so to participate in the privatisation of the Vestmoldtransgaz state-run company, the Bucharest Stock Exchange (BVB)’s website informs.

Moreover, approved it was the enabling of Ion Sterian, as managing director of Transgaz or of a person authorised by him on an express mandate, to unfold all legal formalities necessary to father a joint venture on the Republic of Moldova’s territory and sign all the documents relevant to the respective formalities, the joint venture’s act of constitution included.

The Transgaz’s Board was enabled to increase the share capital of the joint venture company established on the territory of Moldova with a view to successfully participate in the privatisation’s procedure.

Transgaz has recorded January into September 2017 a net profit worth RON 433.552 million, up by 21pct as compared to the one obtained in the similar period of 2016, counting for RON 358.469 million, according to the figures sent by the company to the BVB.

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