Romania Won’t Sell 9.84% In OMV Petrom For Less Than EUR600M, PM Says

Romania will get more money from the sale of a 9.84% stake in oil company Petrom (SNP.RO) on the stock exchange than the social democratic Government got for the company’s privatization in 2004, Prime Minister Emil Boc said Saturday on Pro TV.

24 views

Imaginea articolului Romania Won’t Sell 9.84% In OMV Petrom For Less Than EUR600M, PM Says

Romania Won’t Sell 9.84% In OMV Petrom For Less Than EUR600M, PM Says

"We'll get a bigger price for the sale of the 9.84% stake than the EUR600 million [former prime minister Adrian] Nastase got for the majority stake sale," Boc said, adding the state won't sell the 9.84% for less than EUR600 million.

In 2004, Petrom was valued at EUR2.1 billion and Austria's OMV paid EUR699 million for a 33.34% stake and later raised its share in the Romanian oil company to 51%, through a capital increase of EUR830.6 million.

Romania plans to reduce its stake in Petrom to 10.8% from the current 20.6%in a deal estimated at EUR510 million, the highest transaction ever on the Bucharest Stock Exchange.

Petrom, majority owned by Austria's OMV AG (OMV.VI), is the largest gas and oil producer in southeast Europe.

If you liked this story, please follow MEDIAFAX.RO on FACEBOOK »

The content of mediafax.ro is for your information only. Republishing or using this content is forbidden without express consent of MEDIAFAX. For this consent, please ask for it by mail at vanzari@mediafax.ro.

 

The free download of the press materials (text, photo and / or video), bearers of intellectual property rights, is approved by www.mediafax.ro only within 250 signs. Spaces and URL / hyperlink are not taken into account when counting signs. The collection of information can only be done in accordance with the terms agreed and mentioned here