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Romania: Privatization Deals Finalized

Bucharest, 25 September 1997 (RFE/RL) - Romania today finalizes its second big privatization contract in two days.

Our correspondent reports that Romania's State Ownership Fund will complete a deal for the South Korean company Samsung to buy 51 percent of the shares of the Romanian steel producer, Otelinox. Yesterday, Romania completed its largest privatization deal thus far this year when it sold 51 percent of the shares of the biggest concrete producer in the country, ROMCIM, to the French construction giant, Lafarge.

Romania's government has set ambitious privatization targets for this year in order to qualify for support loans from international lending agencies.