Mayor Gabriela Firea announces completion of procedures to set up Bucharest - European capital city Holding

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Bucharest General Mayor Gabriela Firea announced the completion of the legal procedures for the establishment of the Bucharest - European capital city Holding, that gathers under one umbrella 20 joint-stock municipal companies.

"These days we completed the legal procedures for setting up the Bucharest — European capital city Holding, which includes 20 joint-stock municipal companies. The establishment of this holding is a great loss to the companies that were so far regularly tapping into the City Hall's one-billion euro worth of budget. Why so? Because we want quality public services for a lower price," the General Mayor told the Antena 3 television broadcaster.

On March 29, the Bucharest general councilors — except for those representing Save Romania Union (USR) and the National Liberal Party (PNL) — gave their nod of approval for the establishment of ten joint-stock municipality-owned companies, specifically: the Municipal Sustainable Development Corporation Bucharest SA; the Municipal Energy Corporation Bucharest SA; the Municipal Building Bracing Corporation Bucharest SA; the Municipal Streets, Bridges and Passes Corporation Bucharest SA; the Municipal Parking Corporation Bucharest SA; the Municipal Traffic Management Corporation Bucharest SA; the Municipal Medical Corporation Bucharest SA; the Municipal Tourism Corporation Bucharest SA; the Municipal Parks and Gardens Corporation Bucharest SA; and the Municipal Leisure Corporation Bucharest SA.

On April 11 the general councilors — again with the exception of USR and PNL members — approved the establishment of ten new municipal companies as follows: the Municipal Information Technology Corporation Bucharest SA; the 'Sport for Everyone' Municipal Corporation Bucharest SA; the Municipal Transport Management Corporation Bucharest SA; the Municipal Advertising and Billboarding Corporation Bucharest SA; the Municipal Guard and Security Corporation Bucharest SA; the Municipal Public Lighting Corporation Bucharest SA; the Municipal Real Estate Corporation Bucharest SA; the Municipal Tree and Green Space Grooming Corporation Bucharest SA; the Municipal Civil Protection and Volunteering Corporation Bucharest SA; the Municipal Eco Sanitation Corporation Bucharest SA.

According to the adopted statutes, the founding members for all these companies are the Bucharest Municipality via the Bucharest City Council and SC Service Ciclop SA. The share capital of each company is 120,000 lei divided into 12,000 nominative shares with a face value of ten lei each. The Bucharest Municipality through the City Council holds 11,988 shares, representing 99.9 pct of the share capital, and SC Service Ciclop SA holds 12 shares representing 0.1 pct of the share capital.AGERPRES(RO — author: Irinela Visan, editor: Florin Marin; EN — author: Simona Klodnischi, editor: Maria Voican; online editor: Maria Voican)

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