Minvest to split, a new company to manage stake package in Rosia Montana Gold Corporation SA
The Government adopted on Tuesday a decision, according to which the National Company of Copper, Gold and Iron - Minvest SA Deva - will be reorganized by partially splitting, so that Minvest activity that keeps to Rosia Montana project to be carried out through a new company.
'The Government decision envisages a partial splitting of Minvest in the interest of shareholders, with the purpose of separating the activity of management of the minority package stake held by Minvest in SC Rosia Montana Gold Corporation SA from the remaining activities of the company, as well as for an appropriate transfer of the patrimony afferent to this activity, namely the package of shares owned by the company in RMGC and of the liabilities resulted from loans taken by the company in order to participate in RMGC capital increases', the Executive informs in a press release.
The Government decision also stressed that the Romanian state, through the Department for infrastructure projects and foreign investment, will be a direct shareholder of the newly founded company.
'Given the Romanian state's interest, it is appropriate that the Minvest activity that keeps to Rosia Montana project to be carried out through a new company resulted from the separation of Minvest patrimony related to this project, the Romanian state through DPIIS (the Department of Infrastructure Projects and Foreign Investments, going to be a direct shareholder of the newly established company', the release also says.