The Public Enterprise Reform Committee (CREP) has again postponed the tender to choose the companies that will be in charge of the new capitalization of the Dominican state utility, Corporaci?n Dominicana de Electricidad (CDE). The bidding companies and the CREP have not reached an agreement as to the market value to be assigned to the new companies. The CREP has established a minimum value of US$600 million for the companies that the bidding firms feel is too high. The CDE seeks financing partners in the new companies that will be responsible for the generation and distribution of power. The reform process takes place by means of a capitalization program, in which stock companies will be formed by an increase in capital through new contributions originating from private investors. The new capital contributions will not exceed fifty percent (50%) of the total shares of the company. The investors shall be responsible for management of the company. For more information, contact Dr. Antonio Isa Conde at crepdom@codetel.net.do or at the following address:Gustavo Mej?a Ricart No. 73, Ens. Serrall?s. Santo Domingo, Dominican Republic. Tel.: (809) 683-3591 Fax: (809) 683-3888 or (809) 683-3964
