RADET to be transformed into a joint stock company – Romania, 15 January 2018

The General Counselors of Bucharest are expected to give their consent to a set of measures included in RADET reorganization plan, which prescribes the transformation of the company into a joint stock company, the merger by absorption of ELCEN and the coverage of debts.
The company’s legal administrator Rominsolv SPRL requested the approval of this set of measures intended to reorganize the company which entered insolvency in 2016. Both RADET and ELCEN entered insolvency in late 2016. The two companies are essential for the supply of heat and hot water to Romanian capital Bucharest, but were managed by two different institutions – since ELCEN was managed by the Romanian Ministry of Energy. The issue of merger of these two companies is not a new one, it was already discussed in 2013, but the efforts failed.

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