Romania's Mureșan government outlines state company privatization plan

The designated government of Prime Minister Siegfried Mureșan has outlined a strategic program aimed at restructuring state-owned enterprises through listings and potential privatizations. Starting in 2027, the government plans to list minority stakes of strategic companies on the Bucharest Stock Exchange (BVB) via Initial Public Offerings (IPOs) or Secondary Public Offerings (SPOs), while maintaining strategic state control.

Key targets for these listings include Bucharest Airports (CNAB) and the Port of Constanta. The program also aims to halt the use of taxpayer funds to repurchase minority private stakes in these entities. Each year, the government will categorize central administration companies into one of five regimes: strategic state ownership, stock market listing, privatization or concession, natural monopoly, or orderly closure.

A major component of this strategy involves the state-owned airline, Tarom. Due to long-term losses and a history of unsuccessful management, the government program proposes either privatizing the airline or, if no investor is found, proceeding with its liquidation. The plan suggests that essential air connectivity can be maintained through contractual public services provided by other operators.